- Language: English
- Published: March 2012
- Region: Ohio
Summary: Akron, OH; Tax Secured, General Obligation Sep 02
- Published: September 2002
- Standard & Poors
The 'AA-' rating on Akron, Ohio's special assessment GO bonds reflects the city's: Diversifying economic base, Strong fiscal management, Diverse revenue sources, and Moderate debt burden. These strengths are offset by a budgetary reliance on income tax revenues (which declined in 2001 but should be flat in 2002) and below-average income levels. The bonds are unvoted general obligations of Akron. Special assessments are the intended source of revenues securing the debt service on these bonds. To the extent that the special assessment revenues will be insufficient, the city will levy ad valorem property taxes, within a 10.5-mill limitation, against all taxable property. Akron's economy continues to broaden and diversify away from a heavy dependence on tire manufacturing. Between 1990 and...
Companies mentioned in this report are:
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.
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 >