'BBB' Rating Assigned To New Orleans, LA's Public Improvement Bonds; Outlook Stable Jan 13

  • ID: 2383730
  • January 2013
  • Standard & Poors
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DALLAS (Standard & Poor's) Jan. 24, 2013--Standard & Poor's Ratings Services assigned its 'BBB' long-term rating to New Orleans, La.'s series 2013A taxable public improvement bonds. At the same time, Standard & Poor's affirmed its 'BBB' long-term rating and underlying rating (SPUR) on the city's general obligation debt. We also affirmed the 'BBB-' SPUR on the city's limited tax bonds. The outlook for all ratings is stable. "The rating continues to reflect our view of the city's ongoing challenges for basic infrastructure rebuilding, lack of a structurally balanced budget, high liabilities, and adequate but below average wealth and income levels," said Standard & Poor's credit analyst Sarah Smaardyk. "The rating is supported by continued growth and expansion in the tax...

Companies mentioned in this report are:
- New Orleans

Action: Affirmed
Action: New Rating

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Research type: News
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- New Orleans

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