S&P gives city ‘AA-’ long-term debt rating

SOUTHAVEN — For the third year, Standard and Poor has assigned the city of Southaven an “AA-” long term rating.

The Commercial Appeal reports the rating service cited the city’s financial standing as stable and positive.

In its recent report issued on Nov. 18, Standard & Poor noted Southaven’s strong economy, budgetary performance and liquidity of finances as factors for the city maintaining its AA- rating. Organizations in the ‘AA’ category have a “very strong capacity to meet financial commitments.”

For 2013, the city is projecting a positive general fund result. Total government available cash is at more than 28 percent of total governmental fund expenditures.

Standard and Poor views the management conditions as adequate with standard financial practices.

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