Ratings Roundup: U.S. Public Finance Credit Quality Was Stable In 2011, But Downgrades Dominated In The Second Half Feb 12
- Language: English
- Published: February 2012
- Region: United States
Standard & Poor's Ratings Services affirmed its 'BBB' long-term rating and underlying rating (SPUR) on Wenatchee, Wash.'s general obligation (GO) bonds. The outlook is stable. The city's credit profile is constrained in our view by the city's decisions to not provide timely material support in 2011 and 2012 to the overlapping Greater Wenatchee Regional Events Center Public Facilities District (not rated), with which it had entered into an interlocal agreement, as amended, to provide credit support to two of three of the district's bond anticipate note (BAN) series. The credit strengths of the city in our view include its: Economic base that serves as an urban center for a much larger surrounding rural area; and Record of strong, albeit recently...
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Action: Outlook: Stable
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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 >