Standard & Poor's Ratings Services assigned its 'AAA' long-term rating to Plymouth, Minn.'s series 2010A general obligation (GO) open space bonds. The rating is based on our assessment of the city's: Participation in the Minneapolis-St. Paul (Twin Cities) metropolitan area economic base; Very strong income levels and extremely strong market value per capita indicators; Trend of positive operations and very strong general fund reserve levels coupled with additional reserves available in the city's internal service funds; and Low to moderate debt burden. Official will use the series 2010A bond proceeds to acquire land to conserve trails, greenways, parks, and open space. The city's full faith and credit pledge secures the bonds; and the city will levy ad valorem taxes upon...
Companies mentioned in this report are:
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. SHOW LESS READ MORE >