The 'AAA' rating on West Des Moines, Iowa's series 2008B general obligation (GO) urban renewal bonds is based on the continued strong management of the city's high growth rate and financial position. West Des Moines continues to be an employment and residential center for the entire Des Moines metropolitan area. In addition to these characteristics, the rating also reflects the following rating factors: Participation in the large and diverse Des Moines area economy, Economic indicators that compare favorably with state and national averages, and A historically strong financial position with conservative management. Because of the city's pace of growth, a moderate debt burden is present. Although this factor does somewhat offset the credit strengths, much of the city's debt service
