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Summary: Huntsville,Alabama; General Obligation Feb 13
Standard & Poors, February 2013
Standard & Poor's Ratings Services assigned its 'AAA' rating and stable outlook to Huntsville, Ala.'s series 2013A general obligation (GO) refunding warrants and affirmed its 'AAA' rating, with a stable outlook, on the city's existing GO debt. The rating reflects our opinion of the city's: Growing service area economy that, despite the recession, has continued to expand and that is poised for additional military-related employment; Extremely strong wealth with strong income; Strong growth and a continually diversifying property tax base, coupled with some dependence on the military, aerospace, and electronic industries; Historically very strong finances, supported by strong management practices; and Moderate overall debt. The city's full-faith-and-credit pledge secures the warrants. Officials intend to use warrant proceeds to refinance portions...
Companies mentioned in this report are:
Action: New Rating
Action: Outlook: Stable
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