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S&P Credit Research1578 word report
published Nov 02, 2009
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S&P Credit Research
| Abstract: | Standard&Poor's Ratings Services assigned its 'A+' rating, and stable outlook, to Wadena, Minn.'s series 2009A general obligation (GO) improvement bonds. The rating reflects the city's: Stable local economy with access to the Brainerd, Minn. economic area; Adequate income and wealth indicators; Maintenance of very strong reserves; and Low-to-moderate debt levels. Officials plan to use bond proceeds to make street and utility improvements. The city has pledged special assessments and net revenues of the water and sewer system as the bonds' intended repayment source. The city's GO full faith and credit pledge also secures the bonds. Management has stated it intends to issue series 2009A bonds as federally taxable build America bonds, pursuant to the American Recovery&Reinvestment
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| Brief Excerpt: | RESEARCH Ratings Definitions Summary: Wadena, Minnesota; General Obligation Publication date: 02-Nov-2009 Primary Credit Analyst: Linda Merus, Chicago (1) 312-233-7017; linda_merus@standardandpoors.com Secondary Credit Analyst: Corey...
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| Report Type: | Summary
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| Issuer: | Wadena
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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.
