- Language: English
- Published: October 2012
- Region: Venezuela
Summary: Creston, Iowa; General Obligation Mar 12
- Published: March 2012
- Region: Iowa
- Standard & Poors
Standard & Poor's Ratings Services has assigned its 'A+' long-term rating to Creston, Iowa's series 2012A general obligation (GO) capital loan notes and series 2012B GO refunding capital loan notes. At the same time, we affirmed our 'A+' long-term rating on the city's existing GO debt. The outlook is stable. The rating reflects our opinion of the city's: Stable local economy with diverse employment opportunities; Adequate income levels and market value per capita; Strong general fund reserves on a cash basis of accounting; and Rapid direct debt amortization. Partially offsetting the above strengths, in our view, is the city's moderately high overall debt burden as a percentage of market value. The city's unlimited-tax GO pledge secures the notes. The city...
Companies mentioned in this report are: Creston
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 >