Summary: West Des Moines, Iowa; General Obligation

S&P Global Ratings assigned its 'AAA' long-term rating to West Des Moines, Iowa's series 2017A general obligation (GO) bonds, series 2017B GO urban renewal bonds, series 2017C GO urban renewal bonds, series 2017D GO urban renewal bonds, and series 2017E GO 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 2017A proceeds for various public improvements and projects and plans to pay debt service from a debt service levy.

...S&P Global Ratings assigned its '###' long-term rating to West Des Moines, Iowa's series 2017A general obligation (GO) bonds, series 2017B GO urban renewal bonds, series 2017C GO urban renewal bonds, series 2017D GO urban renewal bonds, and series 2017E GO 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 2017A proceeds for various public improvements and projects and plans to pay debt service from a debt service levy. Series 2017B proceeds will be used to pay the costs of phase two of projects in the Mills Civic Parkway Urban Renewal Area with tax-increment financing (TIF) revenues as the intended payment source. Series 2017C proceeds will be used for urban renewal projects under the urban renewal plan...

Summary