Printer Friendly

MOODY'S COMPLETES COMPREHENSIVE REVIEW OF WISCONSIN COUNTIES: ABOVE AVERAGE RATING DISTRIBUTION MAINTAINED THROUGH RECENT RECESSION

 NEW YORK, March 22 /PRNewswire/ -- Moody's Investors Service announced today that it has just completed a comprehensive review of all ratings assigned to the general obligation debt of Wisconsin counties, Moody's currently maintains ratings on 46 of the 72 counties in the state. A published report on the agency's statewide review is being released this week in conjunction with the Wisconsin Counties Finance Officers Association meeting at Stevens Point. Changes in wealth levels, growing state mandates, revitalization of local economies and recent borrowing trends are credit issues Moody's explored in this review. The review resulted in three rating downgrades and 37 unchanged ratings. the bonds of six other counties are insured and remain rated `Aaa'.
 Wisconsin counties maintain an above average distribution if ratings, reflecting strengthened economic conditions in recent years, modest debt levels, and generally favorable financial conditions. Improvement in taxbase growth rates and personal wealth levels contribute to credit quality for most counties. Because of an economic restructuring over the past decade, most counties statewide have sustained their positive credit characteristics through the recent national recession. A deterioration of financial position, however, resulted in the downgrade of Washington county from `Aa' to `A1' while the combination of economic and financial weaknesses led to the downgrades of Taylor County and Monroe County, both from `A' to `Baa1'.
 The presentation of essential credit data on a number of similar issuers at one time adds an important comparative dimension to Moody's Municipal Credit Reports, which provide information on individual local governments as part of Moody's analysis of new and outstanding debt. The scope of the county-by-county report allows for a comprehensive review of economic growth, local government capital needs, and prospective changes in credit quality across Wisconsin. The publication highlights similarities among counties in terms of debt, taxbase, administrative and financial factors, as well as identifying differences among them in terms of key economic indicators. The report includes a state overview, comparative tables of key statistics and individual credit comments on each of the 46 counties rated by Moody's.
 -0- 3/22/93
 /CONTACT: James Doyle, assistant vice president, 212-553-4974 or Paul Devines, vice president and manager, 212-553-5012, both of Moody's Investors Service/


CO: ST: Wisconsin IN: SU: ECO

TS-WB -- NY044 -- 8184 03/22/93 11:18 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Mar 22, 1993
Words:377
Previous Article:ALEXANDER & ALEXANDER COMPLETES SALE OF CONVERTIBLE PREFERRED STOCK
Next Article:MARVEL, TOY BIZ & AVI ARAD FORM NEW TOY COMPANY


Related Articles
MOODY'S COMPLETES REVIEW OF HOSPITAL RATINGS IN NORTH CAROLINA: 3 DOWNGRADES, 18 CONFIRMATIONS
MILWAUKEE COUNTY (WIS.) GENERAL OBLIGATION BONDS RATED 'AA-' BY FITCH -- FITCH FINANCIAL WIRE --
MOODY'S COMPLETES REVIEW OF HOSPITAL RATINGS IN PENNSYLVANIA 1 UPGRADE, 8 DOWNGRADES
MOODY'S UPGRADES HARRISON, N.Y., GENERAL OBLIGATION RATING FROM 'Aa' TO 'Aa1'
MADISON WATERWORKS SYSTEM REVENUE BONDS UPGRADED TO 'Aa1' BY MOODY'S FROM 'Aa'
MOODY'S DOWNGRADES ROCKLAND COUNTY, NEW YORK GENERAL OBLIGATION RATING FROM 'Aa' TO 'A1'
MOODY'S COMPLETES COMPREHENSIVE RATING REVIEW OF NEW JERSEY COUNTIES; NO RATING CHANGES IN CONJUNCTION WITH STATEWIDE REVIEW
MOODY'S LOWERS LOS ANGELES COUNTY'S GENERAL OBLIGATION BOND RATING TO 'Aa' FROM 'Aa1'
MOODY'S REVIEWS HOSPITAL RATINGS IN WASHINGTON STATE ONE UPGRADE, NINE CONFIRMATIONS RESULT
MOODY'S ISSUES REPORT ON MASSACHUSETTS COUNTIES; THE GENERAL OBLIGATION RATINGS ON BRISTOL AND NORFOLK COUNTIES LOWERED

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters