Newport News, Virginia; General Obligation Mar 12
Standard & Poors, March 2012
Abstract
Standard & Poor's Ratings Services has assigned its 'AA' long-term rating to Newport News, Va.'s tax-exempt series 2012A general obligation (GO) general improvement refunding and GO water refunding bonds and series 2012B taxable GO general improvement refunding and GO water refunding bonds. At the same time, Standard & Poor's affirmed its 'AA' long-term rating on the city's existing GO debt, issued by the city and Newport News Economic Development Authority. The outlook on all the ratings is stable. The 'AA' rating reflects our view of the city's: Stable local economy with Newport News Shipyard serving as an anchor; Extremely strong property values; and Strong financial operations, supported by what we consider to be prudent financial management policies and practices. Partially...
Companies mentioned in this report are:
- Newport News
- Newport News Econ Dev Auth
Action: New Rating
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: Full Analysis
- Newport News
- Newport News Econ Dev Auth
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