Moody's assigns initial Aa3 issuer rating to Clay County, SD - Moody's Global Credit Research

Moody's assigns initial Aa3 issuer rating to Clay County, SD

Moody's assigns initial Aa3 issuer rating to Clay County, SD - Moody's Global Credit Research
Moody's assigns initial Aa3 issuer rating to Clay County, SD
Published May 26, 2023
5 pages (2334 words) — Published May 26, 2023
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Rating Action

Issuer
Clay (County of) SD
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Clay County, SD: Initial credit analysis - Credit Opinion – 2023/05/30 – US$ 250.00 – ...Clay County, SD's (Aa3) credit profile benefits from a sound local economy that supports solid resident income, strong full value per capita and a regional economic growth rate that has matched the US in recent years. The county's financial operations are healthy with strong liquidity and additional levying flexibility. However, reported fund balance may not provide an accurate representation of available resources because cash basis reporting does not include information on non-cash assets and liabilities. Governance is strong incorporating the county's conservative budgeting practices and forward looking planning. Long-term liabilities and fixed costs are currently low, however will rise above Aa medians, with a planned GO issuance in June 2023, to finance a new jail and law enforcement center. The county has no additional borrowing plans. On May 26, 2023 we assigned an initial Aa3 rating and Aa3 GOULT rating to the county's Series 2023 bonds....

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Moody's Global Credit Research—Moody's Investors Service, a leading global credit rating, research and risk analysis firm, publishes credit opinions, research, and ratings on fixed-income securities, issuers of securities and other credit obligations. Credit ratings and research help investors analyze the credit risks associated with fixed-income securities. Ratings also create efficiencies in fixed-income markets and similar obligations, such as insurance and derivatives, by providing reliable, credible, and independent assessments of credit risk. For issuers, Moody's services increase market liquidity and may reduce transaction costs.

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MLA:
Moody's Global Credit Research. "Moody's assigns initial Aa3 issuer rating to Clay County, SD" May 26, 2023. Alacra Store. Apr 19, 2024. <http://www.alacrastore.com/moodys-credit-research/Moody-s-assigns-initial-Aa3-issuer-rating-to-Clay-County-SD-PR_908135795>
  
APA:
Moody's Global Credit Research. (). Moody's assigns initial Aa3 issuer rating to Clay County, SD May 26, 2023. New York, NY: Alacra Store. Retrieved Apr 19, 2024 from <http://www.alacrastore.com/moodys-credit-research/Moody-s-assigns-initial-Aa3-issuer-rating-to-Clay-County-SD-PR_908135795>
  
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