Bangkok--22 Dec--Standard & Poor's
Standard & Poor's Ratings Services raised its rating and underlying rating (SPUR) to 'AA-' from 'A' on Eagle Valley Library District, Colo.'s limited-tax general obligation bonds. The outlook is stable.
"The 'AA-' rating reflects the district's recent history of strong financial performance, single-purpose nature to provide library service to portions of Eagle County, very strong income and wealth levels, and low direct debt," said Standard & Poor's credit analyst Jessica Schultz.
The bonds are secured by a 2.75 mill limited property tax pledge, which the district is using to pay all of its expenses, including debt service and operations and maintenance.
The stable outlook reflects the district's strong financial position, with historically good general fund balance levels and limited capital needs fitting for a library district.
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:
Jessica Schultz, San Francisco (1) 415-371-5092
Matthew Reining, San Francisco (1) 415-371-5044
Key Contacts:
Americas Media Relations: (1) 212-438-6667
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[email protected]
Americas Customer Service: (1) 212-438-7280
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