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S&P Credit Research758 word report
published Sep 19, 2008
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| Abstract: | NEW YORK (Standard&Poor's) Sept. 19, 2008--Standard&Poor's Ratings Services raised its standard long-term rating and underlying rating (SPUR) on Santa Fe, N.M.'s previously issued senior-lien gross receipts tax (GRT) debt to 'AA+' from 'AA'. At the same time, Standard&Poor's raised its SPUR to 'AA' from 'AA-' on the city's series 2006C subordinate-lien GRT/wastewater improvement revenue bonds and parity series 2005 municipal recreation complex net revenue/subordinate-lien GRT revenue refunding bonds. Standard&Poor's also assigned its 'AA+' standard long-term rating, and stable outlook, to Santa Fe's $23.93 million series 2008B senior-lien GRT refunding revenue bonds. "The upgrade on the GRT debt is based on Santa Fe's consistently strong debt service coverage levels, in our opinion," said
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| Brief Excerpt: | RESEARCH Ratings Definitions Santa Fe, NM GRT Debt Upgraded To '##+' On Strong Debt Service Coverage Publication date: 19-Sep-2008 Primary Credit Analyst: Sussan Corson, New York (1) 212-438-2014; sussan_corson@standardandpoors.com...
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| Report Type: | Ratings Action
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| Issuer: | Santa Fe
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| Sector: | Global Issuers, Public Finance
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| Country: | United States
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| Region: | United States
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| Free Sample: |
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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.
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