CHICAGO (Standard&Poor's) Aug. 5, 2003—Standard&Poor's Ratings Services assigned its 'AA+' rating to West Des Moines, Iowa's $12 million general obligation (GO) bonds series 2003D and $5.384 million GO refunding capital loan notes series 2003E, reflecting the city's full participation in the Des Moines MSA economy. The bonds and notes are scheduled to sell on Aug. 7. The outlook is stable. At the same time, Standard&Poor's affirmed its 'AA+' rating and 'AA+' underlying rating (SPUR) on West Des Moines's outstanding debt. Additional rating factors include high wealth and income levels; and strong financial position, which is bolstered by a targeted fund balance policy. A high debt burden and debt service carrying charges offset the above
