- Language: English
- Published: August 2012
- Region: Virginia
Summary: Newport News, VA; General Obligation, Local GO Aug 98
- Published: August 1998
- Standard & Poors
The upgrade on Newport News, Va.'s bonds reflects the continued economic diversification while maintaining strong financial operations. Other rating factors include the city's role as a major participant in the Hampton Roads regional economy. Rating concerns include an increasing debt due to additional issuance of moral obligation bonds. The city (population 183,185) is traversed or in close proximity to four major interchanges that connect the Hampton Roads region to national and international commerce. The city's economy has historically been dominated by the Newport News Shipbuilding Co., but its dependence on the shipbuilder has waned as other companies relocate to the city. Lost manufacturing jobs are being replaced in the services (26%) and trade (14%) sectors while government employment remains stable...
Companies mentioned in this report are:
- Newport News
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 >
- Newport News