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 Dec 23, 2015
8 pages (3299 words) — Published Dec 23, 2015
Price US$ 225.00  |  Buy this Report Now

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Abstract:

Standard&Poor's Ratings Services lowered its long-term rating to 'A+' from 'AA-' on the Hazelwood Industrial Development Authority, Mo.'s series 2007 annual appropriation capital projects bonds, issued for the city of Hazelwood. At the same time, we removed the rating from CreditWatch, where it had been placed on Sept. 28, 2015, following clarification on the security and structure of the bonds as it relates to the application of our appropriation criteria. In addition, Standard&Poor's affirmed its 'AA' long-term rating and underlying ratings (SPUR) on the city's general obligation (GO) bonds, and its 'AA-' long-term rating on the city's certificates of participation (COPs). The outlook on all ratings is stable. The city's unlimited ad valorem property tax GO

  
Brief Excerpt:

...Standard & Poor's Ratings Services lowered its long-term rating to 'A+' from '##-' on the Hazelwood Industrial Development Authority, Mo.'s series 2007 annual appropriation capital projects bonds, issued for the city of Hazelwood. At the same time, we removed the rating from CreditWatch, where it had been placed on Sept. 28, 2015, following clarification on the security and structure of the bonds as it relates to the application of our appropriation criteria. In addition, Standard & Poor's affirmed its '##' long-term rating and underlying ratings (SPUR) on the city's general obligation (GO) bonds, and its '##-' long-term rating on the city's certificates of participation (COPs). The outlook on all ratings is stable. The city's unlimited ad valorem property tax GO pledge secures its outstanding GO bonds. The '##-' rating on the city's COPs is based on our anticipation that the city will use any legally available revenue to meet its lease payment obligations. The rating is one notch below...

  
Report Type:

Summary

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Global Issuers, Public Finance
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MLA:
S&P Global Ratings’ Credit Research. "Summary: Hazelwood, Missouri; Appropriations; General Obligation" Dec 23, 2015. Alacra Store. Feb 26, 2024. <http://www.alacrastore.com/s-and-p-credit-research/Summary-Hazelwood-Missouri-Appropriations-General-Obligation-1556451>
  
APA:
S&P Global Ratings’ Credit Research. (). Summary: Hazelwood, Missouri; Appropriations; General Obligation Dec 23, 2015. New York, NY: Alacra Store. Retrieved Feb 26, 2024 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-Hazelwood-Missouri-Appropriations-General-Obligation-1556451>
  
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