[MLT] Rating Lowered To 'D' On Jones County, Texas' Series 2009 Bonds Due To Failure To Make Annual Lease Payments Dec 11
- Language: English
- Published: December 2011
- Region: Texas
The rating on Jones County, Miss.'s bonds reflects: A limited though steadily growing economic base, Income levels below the national average, Adequate financial performance, and Manageable debt levels. Jones County (population 63,000) is located in southeastern Mississippi along I-59 between Meridian and Hattiesburg. The local economic base reflects its rural character, with two large poultry processing plants, Wayne Poultry and Sanderson Farms. However, the presence of the interstate highway creates opportunities for regional retailers, service providers, manufacturers, and distributors such as Howard Industries, a maker of electric transformers, which employs 2,000. The tax base is gradually increasing with an assessed valuation of $238 million in 1997 up 5.7% over the prior year. Unemployment rates typically mirror state cycles though they...
Companies mentioned in this report are:
- Jones Cnty
Action: New Rating
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- Jones Cnty