Bangkok--20 Apr--Standard & Poor's
Standard & Poor's Ratings Services assigned its 'AA+' long-term rating, with a stable outlook, to Yellowstone County, Mont.'s series 2009 general obligation (GO) refunding bonds.
The 'AA+' rating reflects the city's role as a regional economic center, consistently very strong financial performance, and a very low overall net debt per capita of $491.
The above rating strengths are offset by a moderately concentrated tax base and some sector concentration among the top 10 taxpayers.
The bonds are general obligations of the county payable from the proceeds of an unlimited ad valorem tax, which the county covenants to levy annually on taxable property within the County. The bond proceeds will be used to refund the series 2001 GO bonds.
"We expect the county's strong financial profile will be maintained," said Standard & Poor's credit analyst Misty Newland.
Yellowstone County is located in south central Montana, along Interstate 90. As the state's most populous county, it is an important regional economic center.
RELATED RESEARCH
USPF Criteria: "GO Debt," Oct. 12, 2006
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Media Contact:
Ana Sandoval, New York (1) 212-438-5095, [email protected]
Analyst Contacts:
Misty Newland, San Francisco (1) 415-371-5073
Paul Dyson, San Francisco (1) 415-371-5079
Key Contacts:
Americas Media Relations: (1) 212-438-6667
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Americas Customer Service: (1) 212-438-7280
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