Standard&Poor's Ratings Services assigned its 'A' long-term rating to Westfield-Washington Public Library, Ind.'s general obligation (GO) bonds of 2012. At the same time, Standard&Poor's affirmed its 'A' long-term rating on the library's existing debt. The outlook is stable. The rating reflects our opinion of the library's creditworthiness, including its: Participation in the Indianapolis MSA; Strong income and very strong wealth levels; and Low financial reserves, on a cash basis of accounting, further supported by additional liquidity outside the general fund. Offsetting the above strengths is our view of the district's moderately high to high overall net debt burden. The bonds are payable from ad valorem property taxes to be levied on all taxable property within the
