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Summary: Wenatchee, Washington; General Obligation Jan 13 Product Image

Summary: Wenatchee, Washington; General Obligation Jan 13

  • ID: 2386764
  • January 2013
  • Region: Washington
  • Standard & Poors

Abstract
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...

Companies mentioned in this report are:
- Wenatchee

Action: Affirmed
Action: Outlook: Stable

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