Summary: Henry Cnty, IN; Appropriation, General Obligation Equivalent Security Apr 03

Standard & Poors, April 2003

Abstract
The rating outlook on Henry County Government Center Building Corp. and Henry County Juvenile Center Building Corp., Ind.'s outstanding bonds has been revised to negative from stable, reflecting Henry County's deteriorating financial position and significant decrease in liquidity brought on by a structural imbalance. The 'A-' rating and 'A-' Standard & Poor's underlying rating (SPUR) have been affirmed. The provisional qualifier has been removed from the rating on the series 1999 bonds as the project is complete and the county has begun making lease payments. The rating reflects the following credit characteristics: Participation in the broader Indianapolis metropolitan area economy, Moderately low income levels as measured by effective buying income, and No additional debt plans. The bonds are secured by...

Companies mentioned in this report are: Henry Cnty,Henry Cnty Govt Ctr Bldg Corp
Action: Outlook Revised

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

Henry Cnty,Henry Cnty Govt Ctr Bldg Corp

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