Summary: Hazelwood, Missouri; Appropriations; General Obligation - S&P Global Ratings’ Credit Research

Summary: Hazelwood, Missouri; Appropriations; General Obligation

Summary: Hazelwood, Missouri; Appropriations; General Obligation - S&P Global Ratings’ Credit Research
Summary: Hazelwood, Missouri; Appropriations; General Obligation
Published Aug 10, 2015
7 pages (2811 words) — Published Aug 10, 2015
Price US$ 225.00  |  Buy this Report Now

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Abstract:

Standard&Poor's Ratings Services raised its long-term rating and underlying rating (SPUR) to 'AA' from 'AA-' on Hazelwood, Mo.'s general obligation (GO) bonds. At the same time, we raised our long-term rating to 'AA-' from 'A+' on the city's appropriation-backed debt. We also assigned our 'AA' long-term rating to the city's series 2015 unlimited-tax GO refunding bonds and our 'AA-' long-term rating to the city's series 2015 refunding certificates of participation (COPs). The outlook is stable. The rating action is based on our view of the city's improved budgetary performance following the implementation of various structural budget adjustments, including voter approval of two new sales tax levies and various expenditure reductions. We believe that these adjustments are sustainable, which

  
Brief Excerpt:

...Standard & Poor's Ratings Services raised its long-term rating and underlying rating (SPUR) to '##' from '##-' on Hazelwood, Mo.'s general obligation (GO) bonds. At the same time, we raised our long-term rating to '##-' from 'A+' on the city's appropriation-backed debt. We also assigned our '##' long-term rating to the city's series 2015 unlimited-tax GO refunding bonds and our '##-' long-term rating to the city's series 2015 refunding certificates of participation (COPs). The outlook is stable. The rating action is based on our view of the city's improved budgetary performance following the implementation of various structural budget adjustments, including voter approval of two new sales tax levies and various expenditure reductions. We believe that these adjustments are sustainable, which should allow the city to maintain very strong reserves and liquidity during the next two years. The city's unlimited-tax full faith and credit GO pledge secures the series 2015 GO bonds. Officials will...

  
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Summary

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Public Finance
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MLA:
S&P Global Ratings’ Credit Research. "Summary: Hazelwood, Missouri; Appropriations; General Obligation" Aug 10, 2015. Alacra Store. Apr 21, 2024. <http://www.alacrastore.com/s-and-p-credit-research/Summary-Hazelwood-Missouri-Appropriations-General-Obligation-1432245>
  
APA:
S&P Global Ratings’ Credit Research. (). Summary: Hazelwood, Missouri; Appropriations; General Obligation Aug 10, 2015. New York, NY: Alacra Store. Retrieved Apr 21, 2024 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-Hazelwood-Missouri-Appropriations-General-Obligation-1432245>
  
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