The 'A+' long-term rating assigned to the town of St. John, Ind.'s series 2010 general obligation (GO) bonds reflects Standard & Poor's Ratings Services' view of the town's: Participation in the deep and diverse Chicago metropolitan area economy, Very strong income levels and extremely strong wealth levels as measured by market value per capita, and Low to moderate debt burden. The town's lessened reserve levels on a cash basis are a limiting rating factor. Securing the bonds are ad valorem property taxes levied against all taxable property in the town, subject to the circuit breaker legislation. However, recent legislation requires debt service to be fully funded regardless of any circuit breaker impact on property taxes. In addition, governmental entities in...
Companies mentioned in this report are: Town of St. John,St. John Bldg Corp
Action: New Rating
Action: Outlook: Stable
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