Huntsville, AL Series 2023A-2023D GO Warrants Assigned 'AAA' Rating, Outlook Is Stable

NEW YORK (S&P Global Ratings) Feb. 15, 2023--S&P Global Ratings assigned its 'AAA' rating and stable outlook to Huntsville, Ala.'s roughly $66.26 million series 2023A general obligation (GO) warrants, roughly $26.505 million series 2023B GO warrants, roughly $44.175 million series 2023C GO sewer warrants, and roughly $44.87 million series 2023D GO school warrants and affirmed its 'AAA' rating on Huntsville's existing GO warrants. S&P Global Ratings also affirmed its 'AA+' rating, with a stable outlook, on the city's existing GO appropriation warrants. "We could lower the rating if budgetary performance were to become imbalanced, either due to increased fixed costs from high debt or operating deficits, leading to a reserve drawdown," said S&P Global Ratings credit analyst Katy Vazquez. The

...February 15, 2023 NEW YORK (S&P Global Ratings) Feb. 15, 2023--S&P Global Ratings assigned its '###' rating and stable outlook to Huntsville, Ala.'s roughly $66.26 million series 2023A general obligation (GO) warrants, roughly $26.505 million series 2023B GO warrants, roughly $44.175 million series 2023C GO sewer warrants, and roughly $44.87 million series 2023D GO school warrants and affirmed its '###' rating on Huntsville's existing GO warrants. S&P Global Ratings also affirmed its '##+' rating, with a stable outlook, on the city's existing GO appropriation warrants. "We could lower the rating if budgetary performance were to become imbalanced, either due to increased fixed costs from high debt or operating deficits, leading to a reserve drawdown," said S&P Global Ratings credit analyst Katy Vazquez. The stable outlook reflects S&P Global Ratings' opinion of Huntsville's multiyear positive operating performance and maintenance of very strong reserves, as well as prudent financial management...

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