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 Sep 21, 2023
8 pages (3366 words) — Published Sep 21, 2023
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Abstract:

S&P Global Ratings revised the outlook to stable from negative and affirmed its 'A+' long-term rating on Hazelwood, Mo.'s general obligation (GO) debt outstanding, its 'A' long-term rating on the city's certificates of participation (COPs) outstanding, and its 'A-' long-term rating on the city's series 2007 annual appropriation capital projects bonds. The outlook revision reflects our view of the city's robust reserve position following several years of budget overperformance, which we believe offsets some of the likelihood of a structural gap emerging given the city's view of ongoing fixed cost pressures from contracted fire protection services. The city's unlimited-tax GO pledge secures the GO debt. The city's COPs are rated one notch lower than its GO debt to reflect annual

  
Brief Excerpt:

...+ S&P Global Ratings revised the outlook to stable from negative and affirmed its 'A+' long-term rating on Hazelwood, Mo.'s general obligation (GO) debt outstanding, its 'A' long-term rating on the city's certificates of participation (COPs) outstanding, and its 'A-' long-term rating on the city's series 2007 annual appropriation capital projects bonds. + The outlook revision reflects our view of the city's robust reserve position following several years of budget overperformance, which we believe offsets some of the likelihood of a structural gap emerging given the city's view of ongoing fixed cost pressures from contracted fire protection services....

  
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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" Sep 21, 2023. Alacra Store. Apr 16, 2024. <http://www.alacrastore.com/s-and-p-credit-research/Summary-Hazelwood-Missouri-Appropriations-General-Obligation-3058839>
  
APA:
S&P Global Ratings’ Credit Research. (). Summary: Hazelwood, Missouri; Appropriations; General Obligation Sep 21, 2023. New York, NY: Alacra Store. Retrieved Apr 16, 2024 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-Hazelwood-Missouri-Appropriations-General-Obligation-3058839>
  
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