NEW YORK (Standard & Poor's) Feb. 7, 2012--Standard & Poor's Ratings Services has assigned its 'A' long-term rating to the city of Gilbert, Minn.'s $1.03 million series 2012A general obligation (GO) bonds. The outlook is stable. The rating reflects Standard & Poor's assessment of the city's: Adequate wealth and income indicators, Very strong financial reserves, and Low-to-moderate debt levels. A limiting credit consideration, in Standard & Poor's view, is the nominal dollar amount of the general fund balance, which, while very strong on a percentage basis, could be susceptible to any unforeseen challenges. "We expect that the city will maintain balanced operations and very strong reserves. Although we do not expect the rating to change within the two-year parameter of...
Companies mentioned in this report are: Gilbert
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.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.