Summary: St. John, Indiana; General Obligation; General Obligation Equivalent Security Aug 10
- ID: 2051530
- August 2010
- Region: Indiana
- Standard & Poors
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
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.
SHOW LESS READ MORE >