The 'AAA' long-term rating assigned to Columbus, Ohio's unlimited-tax and limited-tax general obligation (GO) various purpose bonds series 2009A-2009E reflects Standard & Poor's Rating Services' opinion of the city's: Large, vibrant, and diverse economic base that has a significant governmental component, which provides stability and helps to protect against economic cycles; Recent voter support coupled with management's willingness to make timely budgetary adjustments leading to its expectation of rebuilding reserves over the next several years from current reduced levels; Moderate overall debt burden; and Well-managed capital improvement program (CIP), which continues to address ongoing capital needs. Although we are concerned by the impact of the ongoing economic downturn on the city's finances, we believe that an 'AAA' rating continues to...
Companies mentioned in this report are:
Action: New Rating
Action: Outlook: Stable
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