Summary: Sandy City, Utah; Sales Tax Feb 12

Standard & Poors, February 2012

Abstract
Standard & Poor's Ratings Services assigned its 'AA+' long-term rating to Sandy City, Utah's series 2012 sales tax revenue refunding bonds. At the same time, Standard & Poor's affirmed its 'AA+' long-term rating and underlying rating (SPUR) on the city's sales tax revenue bonds. The outlook is stable. The ratings reflect our view of the city's: Local economy supported by very strong income indicators; Very strong historical and projected maximum annual debt service (MADS) coverage; and Strong 2x additional bonds test. Securing the bonds is a first lien on pledged city sales tax revenues. The city currently levies a local sales tax at the rate of 1%. Sales taxes for cities in Utah are collected by the Utah State Tax...

Companies mentioned in this report are:
- Sandy City

Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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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.

- Sandy City

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