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 Jun 30, 2022
4 pages (1515 words) — Published Jun 30, 2022
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Abstract:

S&P Global Ratings placed the following ratings for the City of Hazelwood, Mo., on CreditWatch with negative implications: 'AA' general obligation (GO) rating, 'AA-' certificate of participation rating, and 'A+' annual appropriation capital projects bond long-term rating. The CreditWatch placement reflects our view that there is at least a one-in-two likelihood of a negative rating action within the next 90 days, after we gather additional information surrounding the Hazelwood mayor's recent statement that "a Chapter 9 bankruptcy of Missouri's 26th-largest city and the seventh-largest city in St. Louis County may be inevitable." While the mayor stated this recently in a media outlet, we are still gathering information on the likelihood of the city's pursuing bankruptcy as an official course of

  
Brief Excerpt:

...S&P Global Ratings placed the following ratings for the City of Hazelwood, Mo., on CreditWatch with negative implications: + '##' general obligation (GO) rating, + '##-' certificate of participation rating, and + 'A+' annual appropriation capital projects bond long-term rating. The CreditWatch placement reflects our view that there is at least a one-in-two likelihood of a negative rating action within the next 90 days, after we gather additional information surrounding the Hazelwood mayor's recent statement that "a Chapter 9 bankruptcy of Missouri's 26th-largest city and the seventh-largest city in St. Louis County may be inevitable." While the mayor stated this recently in a media outlet, we are still gathering information on the likelihood of the city's pursuing bankruptcy as an official course of action. The GO rating could be capped at '###-' if the city actively considers bankruptcy, and the appropriation ratings could be notched further from the GO rating as a result of such factors...

  
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Summary

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MLA:
S&P Global Ratings’ Credit Research. "Summary: Hazelwood, Missouri; Appropriations; General Obligation" Jun 30, 2022. Alacra Store. Feb 26, 2024. <http://www.alacrastore.com/s-and-p-credit-research/Summary-Hazelwood-Missouri-Appropriations-General-Obligation-2861819>
  
APA:
S&P Global Ratings’ Credit Research. (). Summary: Hazelwood, Missouri; Appropriations; General Obligation Jun 30, 2022. 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-2861819>
  
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