Bangkok--4 Nov--Standard & Poor's
Despite tough economic times, the number of U.S. municipalities with 'AAA' ratings has more than doubled since early 2008, to 169, Standard & Poor's Ratings Services said today in a report.
"The large increase reflects ongoing modifications to Standard & Poor's criteria and our view of the economic, financial, and managerial strength of these municipalities," said Standard & Poor's credit analyst Karl Jacob (see "Ongoing Criteria Changes May Lead To USPF Rating Changes," published May 5, 2008, on RatingsDirect).
A total of 83 communities joined this elite group in the 18 months through August 2009. Of the new entrants, 65 were upgraded from our 'AA' category, while the debt of 21 communities was initially rated, according to the report, "Sector Review: The Ranks Of 'AAA' Municipalities Swell Despite Hard Times." Click on title of report to view article.
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:
Karl Jacob, New York (1) 212-438-2111
Daniel Zuccarello, New York 1-212-438-7414