Summary: Joplin, Missouri; Appropriations; General Obligation Feb 12
- ID: 2082557
- February 2012
- Region: Missouri
- Standard & Poors
Standard & Poor's Ratings Services has assigned its 'AA-' long-term rating to Joplin, Mo.'s series 2012 refunding certificates of participation (COPs) and affirmed its 'AA-' long-term rating and underlying rating (SPUR) on the city's outstanding series 2003 COPs. The outlook is stable. The 'AA-' rating on the refunding COPs reflects a pledge of semiannual lease rental payments, which are subject to annual appropriation pursuant to the lease agreement and trust indenture securing the refunding COPs. The city has pledged to annually appropriate lease rental payments from any legally available funds before the conclusion of its fiscal year on Oct. 31. There will be no debt service reserve funded for the refunding COPs, but lease payment dates are scheduled to occur...
Companies mentioned in this report are: Joplin
Action: New Rating
Action: Outlook: Stable
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