- Published: January 2002
Summary: Davenport, Iowa; General Obligation Dec 10
- Published: December 2010
- Region: Iowa
- Standard & Poors
Standard & Poor's Ratings Services assigned its 'AA' long-term rating to Davenport, Iowa's series 2010D general obligation (GO) corporate bonds and series 2011A GO refunding bonds. At the same time, we affirmed our 'AA' rating and underlying rating (SPUR) on the city's existing debt. The outlook is stable. The ratings reflect our assessment of the city's: Participation in the stable "Quad Cities" area, which includes cities in both Iowa and Illinois; Strong wealth levels; Strong financial operations and conservative management; and Moderate debt burden as a percentage of market value. Partially offsetting the preceding strengths is our view of the city's below-average income indicators, which we consider to be adequate. The bonds are secured by the city's unlimited-tax GO pledge....
Companies mentioned in this report are:
Action: New Rating
Action: Outlook: Stable
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