• SELECT SITE CURRENCY
Select a currency for use throughout the site
Summary: Goodyear, Arizona; General Obligation Mar 12
Standard & Poors, March 2012
Standard & Poor's Ratings Services assigned its 'AA-' long-term rating to Goodyear, Ariz.'s series 2012 general obligation (GO) refunding bonds. In addition, Standard & Poor's affirmed its 'AA-' long-term rating and underlying rating on the city's previously issued GO bonds. The outlook on all ratings is stable. The ratings reflect our view of Goodyear's: Access to the diverse Phoenix economy; Strong wealth indicators; and "Strong" financial policies and practices per our Financial Management Assessment (FMA) methodology. Partly offsetting the above strengths is our view of Goodyear's: Large declines in secondary assessed valuation (SAV); and Very high overall debt burden and carrying charges, together with slow debt amortization. Unlimited ad valorem property tax revenue secures the bonds. Goodyear is a rapidly...
Companies mentioned in this report are: Goodyear
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.