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Summary: Superior, WI; General Obligation, Local GO Nov 99
Standard & Poors, November 1999
The rating on Superior, Wis.' bonds reflects: An economy dependent on mining and shipping having employment access to Duluth, Minn.; Satisfactory financial performance; and A moderate debt burden. The bonds are general obligations of the city of Superior. The city is located on the northeastern tip of Wisconsin and participates in the regional economy surrounding Duluth. The city's harbor on Lake Superior has a large concentration of grain terminal elevators and the Burlington Northern taconite dock. The Port of Duluth-Superior is the largest on the Great Lakes and the 14th largest U.S. port, shipping 35 million tons annually. The taxpayer base is currently $846 million with growth averaging about 5% annually since 1996. Leading taxpayers include Mid West Coal Co.,...
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Action: New Rating
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