S&P gives city ‘AA-‘ long-term debt rating
Published: December 9,2013
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.
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- DAVID DALLAS — Roger Wicker: Profile in discouragement
- Ecolab reducing Columbus workforce
- Tommy Robertson indicted on five counts of embezzlement
- State's ventures into alt-fuel markets net few jobs
- BILL CRAWFORD — More jobs, but fewer with jobs, huh?
- Lab owner loses challenge to 40 months in waste case
- ANITA MODAK-TRURAN — Mississippi’s motion picture renaissance
- MSU-CVM professor leads major reference publication
- Watch out for wildlife while driving on roads, highways