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Summary: Creston, Iowa; General Obligation Mar 12
Standard & Poors, March 2012
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
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