AUSTIN, Texas -- Bloomfield, NM's $1.6 million general obligation (GO) bonds, series 2005, are rated 'A-' by Fitch. In addition, Fitch affirms the 'A-' ratings on the city's outstanding $555,000 GO bonds, series 2000 and $270,000 gross receipts tax revenue refunding bonds, series 1999. The series 2005 bonds are scheduled for a competitive sale on Jan. 10. RBC Dain Rauscher Inc. is the city's financial advisor. The Rating Outlook is Stable.
The 'A-' rating is based on the city's satisfactory finances, the general stability of the local economic base which is dominated by extraction industries, and favorable debt profile and limited borrowing plans.
Financial ...