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Summary: Akron, Ohio; Appropriations; General Obligation; Note May 10

Description:

Abstract
The 'SP-1+' short-term rating assigned to Akron, Ohio's series 2010A limited-tax general obligation (GO) various-purpose bond anticipation notes (BANs) reflects Standard & Poor's Ratings Services' opinion of the city's investment grade credit quality, as reflected in the AA-' long-term rating on its GO debt and its history of market access as evidenced by its outstanding debt. Securing the BANs are the city's limited-tax GO pledge, the pledge of its 2% income tax receipts, and its authorization to retire the notes with long-term debt. The government will use the BAN proceeds to refund its outstanding 2009 BANs. The 'AA-' long-term rating and underlying rating (SPUR) on the city's existing GO debt and the 'A+' long-term rating and SPUR on the city's...

Companies mentioned in this report are:
- Akron

Action: Affirmed
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.

Companies Mentioned

Akron

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Summary: Akron, Ohio; Appropriations; General Obligation; Note May 10

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Summary: Akron, Ohio; Appropriations; General Obligation; Note May 10

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Please fax this form to: (646) 607-1907 or (646) 964-6609 (from USA) +353-1-481-1716 or +353-1-653-1571 (from Rest of World)

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