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Duluth, Minnesota; Tax Secured, General Obligation Sep 05 Product Image

Duluth, Minnesota; Tax Secured, General Obligation Sep 05

  • ID: 2049458
  • September 2005
  • Region: Minnesota
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services assigned its 'AA-' rating to Duluth, Minn.'s GO street improvement and tax abatement bonds, series 2005D-E, and affirmed its 'AA-' rating on the city's outstanding debt. The rating reflects the following credit factors: The city's role as a regional economic center, which is supported by health care, aircraft manufacturing and maintenance, port activity, and tourism; A healthy local economy that continues to expand, as demonstrated by ongoing diversification, as well as a strong tax base growth; The maintenance of a stable financial position despite growth pressures; The maintenance of below-average unemployment rates during the economic slowdown of the past several years and a decrease in seasonal employment cyclicality due to diversification; and Well-managed capital needs...

Companies mentioned in this report are:
- Duluth

Action: New Rating

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.

Research Type: Full Analysis

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