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Summary: Akron, Ohio; Miscellaneous Tax; Note Mar 12

  • ID: 2083708
  • March 2012
  • Region: Ohio
  • Standard & Poors

Standard & Poor's Ratings Services has assigned its 'SP-1+' short-term rating and 'AA+' preliminary long-term rating to Akron, Ohio's series 2012 health benefit claims bond anticipation notes. The preliminary rating reflects our view of the city's authority to issue long-term income tax revenue bonds to retire the notes in 2013. At the same time, we affirmed the 'AA+' long-term rating on Akron's community learning center (CLC) income tax revenue bonds. The city's 2% basic income tax secures debt service on the series 2012 notes. The notes' lien on the 2% general income tax is on parity with the city's other income tax secured and guaranteed debt (including certain general obligation bonds with an additional income tax pledge). The CLC bonds...

Companies mentioned in this report are:
- Akron

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

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