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Article: Fitch Affirms Riverton City, Utah's $21.8MM Franchise & Sales Tax Revs at 'AA-'; Outlook Stable.
- Article from:
- Investment Weekly News
- Article date:
- November 14, 2009
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As part of ongoing surveillance, Fitch Ratings affirms Riverton City, Utah's $21.8 million outstanding franchise and sales tax revenue bonds at 'AA-'. The Rating Outlook is Stable.
The 'AA-' rating reflects strong debt coverage levels from pledged tax revenues and good additional bonding security features. Additional considerations include the city's stable local economy with wider access to the Salt Lake County employment base, solid financial performance and liquidity, and low debt burden. The city intends to meet its capital needs with continued use of pay-go financing over the intermediate-term, which should keep debt service coverage at its currently high ...