CHICAGO (Standard&Poor's) June 3, 2004—Standard&Poor's Ratings Services has assigned its 'AA+' rating to West Des Moines, Iowa's $6 million general obligation bonds series 2004A, reflecting the city's full participation in the Des Moines MSA economy. The bonds are scheduled to sell on June 7. The outlook is stable. At the same time, the rating agency affirmed its 'AA+' standard long-term rating and Standard&Poor's underlying rating (SPUR) on the city's outstanding general obligation debt. The rating also reflects the city's 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 these strengths," said Standard&Poor's credit
