CHICAGO (Standard&Poor's) April 13, 2007--Standard&Poor's Ratings Services has assigned its 'A' rating to the city of Mount Vernon, Iowa's $4.41 million GO bonds series 2007. The outlook is stable. The rating reflects the city's participation in the Cedar Rapids MSA economy with easy access to employment opportunities in Iowa City; growing tax base, supported by average income levels; and sound financial operations with stable reserve levels. Tempering the credit strengths above are the city's limited tax base and above-average overall net debt burden as a percent of market value. "We expect that the city's tax base will continue to grow, providing additional revenue and that at-least adequate cash reserve levels will be maintained," said Standard&
