Standard&Poor's Ratings Services affirmed its 'A+' long-term and underlying ratings on Mount Vernon, Iowa general obligation (GO) bonds. The outlook is stable. In our opinion, the 'A+' rating reflects the city's: Access to employment opportunities in the diverse Iowa City and Cedar Rapids economic centers; Good income, coupled with historically low unemployment; Strong overall financial position with strong general fund reserves measured on a cash basis of accounting; and Moderate debt burden. Partially offsetting the above strengths is our view of the city's below-average, although adequate, market value per capita and high debt service carrying charges. The city's unlimited-tax GO pledge secures the bonds. Mount Vernon is in east-central Iowa's Linn County, approximately 13 miles east of Cedar
