Summary: Huntsville,Alabama; General Obligation Feb 13

Standard & Poors, February 2013

Abstract
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:
- Huntsville

Action: Affirmed
Action: New Rating
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.

- Huntsville

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