CHICAGO (Standard&Poor's) Nov. 20, 2003—Standard&Poor's Ratings Services assigned its 'AA+' rating to West Des Moines, Iowa's $19.25 million general obligation (GO) bonds series 2003F, reflecting the city's full participation in the Des Moines MSA economy. The bonds are scheduled to sell on Nov. 24. The outlook is stable. Standard&Poor's also affirmed its 'AA+' standard long-term rating and underlying rating on the city's outstanding GO 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 the above strengths. "The stable outlook reflects the expectation of maintained financial position, despite growth
