Summary: West Des Moines, Iowa; General Obligation

Standard&Poor's Ratings Services assigned its 'AAA' long-term rating to West Des Moines, Iowa's series 2015A general obligation (GO) urban renewal bonds, series 2015B taxable GO urban renewal bonds, and series 2015C GO urban renewal refunding bonds. At the same time, we affirmed our long-term rating and underlying rating (SPUR) on the city's previously rated GO bonds. The outlook is stable. A pledge of the city's full faith and credit and an agreement to levy ad valorem property taxes without limit as to rate or amount secure the bonds. The city intends to use series 2015A proceeds for urban renewal projects under the urban renewal plan for the Alluvion Urban Renewal Area. Series 2015B proceeds will be used for

...Standard & Poor's Ratings Services assigned its '###' long-term rating to West Des Moines, Iowa's series 2015A general obligation (GO) urban renewal bonds, series 2015B taxable GO urban renewal bonds, and series 2015C GO urban renewal refunding bonds. At the same time, we affirmed our long-term rating and underlying rating (SPUR) on the city's previously rated GO bonds. The outlook is stable. A pledge of the city's full faith and credit and an agreement to levy ad valorem property taxes without limit as to rate or amount secure the bonds. The city intends to use series 2015A proceeds for urban renewal projects under the urban renewal plan for the Alluvion Urban Renewal Area. Series 2015B proceeds will be used for urban renewal projects and to fund incentives pursuant to a development agreement with Microsoft. Series 2015C proceeds will be used to crossover refund the city's series 2008B GO bonds for interest cost savings. The rating reflects our assessment of the following factors for the...

Summary