- Published: May 2012
- Region: United States
Newport News, Virginia; General Obligation, Local GO May 00
- Published: May 2000
- Region: Virginia
- Standard & Poors
The rating on Newport News, Va.'s GO bonds reflects the city's: Diversifying employment base that actively participates in the Hampton Roads, Va. regional economy; Steady tax base growth; and Strong financial operations. Offsetting factors include increasing debt levels and ongoing capital needs, reflecting a large, but manageable, five-year capital improvement program (CIP). Located in southeast Virginia, the city benefits from excellent highway access to the Hampton Roads region. The city's economy remains dependent on the Newport News Shipbuilding Co., but the economic base has diversified as other companies have relocated to the city. More importantly, the shipyard has a contract backlog of more than $5.4 billion, which is expected to keep the shipyard busy for about 35 years. The main...
Companies mentioned in this report are: Newport News
Action: New Rating
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