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:
Action: New Rating
Action: Outlook: Stable
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.
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. SHOW LESS READ MORE >