Bangkok--10 Jun--Standard & Poor's
Standard & Poor's Ratings Services said it raised the ratings on the debt of 16 municipalities in California, Colorado, and Washington following a review of their credit strengths.
"As with our recent reviews of other municipalities, we believe that these communities have demonstrated some combination of economic stability, strong financial performance, and good management practices," said Standard & Poor's credit analyst Le Quach.
The latest upgrades reflect Standard & Poor's analysis of the credit risk of communities with a small size and/or remote location, as well as below-median ratios.
The upgraded municipalities are Amador County, Arroyo Grande, Butte County, Camarillo, Campbell, Del Mar, Fountain Valley, Lake Forest, Mission Viejo, Monrovia, Orinda, Santa Clarita, South San Francisco, West Covina, Calif.; Milliken, Colorado; and Puyallup, Wash.
For more information on each issuer, see "16 Western Municipalities Are Upgraded After Review Of Credit Strength," published today on RatingsDirect.
RELATED RESEARCH
--"Key General Obligation Ratio Credit Ranges — Analysis Vs. Reality," April 2, 2008
--"Does Bigger Always Mean Better? Sizing Up The Impact Of Size On Municipal Ratings," April 22, 2008
--"Location, Location, Location: What Does It Mean For My Community's Rating?," April 22, 2008
The report is available to RatingsDirect subscribers at www.ratingsdirect.com. If you are not a RatingsDirect subscriber, you may purchase a copy of the report by calling (1) 212-438-9823 or sending an e-mail to [email protected]. Ratings information can also be found on Standard & Poor's public Web site at www.standardandpoors.com; under Ratings in the left navigation bar, select Find a Rating. Members of the media may request a copy of this report by contacting the media representative provided.
Media Contact:
Ana Sandoval, New York (1) 212-438-5095, [email protected]
Analyst Contacts:
Le T Quach, San Francisco (1) 415- 371-5013
Timothy Barrett, New York (1) 212-438-6327
Gabriel Petek, CFA, San Francisco (1) 415-371-5042