MOODY'S ASSIGNS Aaa RATING TO CITY OF COLUMBUS' VARIOUS PURPOSE UNLIMITED TAX BONDS, SERIES 2010-2A, LIMITED TAX BONDS, SERIES 2010-2B, AND UNLIMITED TAX BUILD AMERICAN BONDS, SERIES 2010-2C; ALSO ASSIGNS MIG 1 TO TRANSPORTATION PROJECTS LIMITED TAX NOTE

Posted on: November 17, 2010, 8:44 am

NEW YORK, Nov 17, 2010 -- Moody's Investors Service has assigned a Aaa rating to the City of Columbus' $12. 285 million Various Purpose Unlimited Tax Bonds, Series 2010-2A; $8.15 million Various Purpose Limited Tax Bonds, Series 2010-2B; $22.715 million Various Purpose Unlimited Tax Build America Bonds (Federally Taxable - Direct Pay), Series 2010-2C. We have also assigned a MIG 1 rating to the city's $25 million Transportation Project Limited Tax Notes, Series 2010-1. Concurrently, we have affirmed the Aaa rating on the city's previously issued GOLT and GOULT debt. Including the current offering, the city has $1.9 billion of outstanding GO debt. The outlook on the city's credit is stable. The General Obligation Unlimited Tax bonds are secured by an unlimited levy on city property for the repayment of debt; the General Obligation Limited Tax bonds are secured by a full faith and credit taxing pledge, subject to statutory 10-mill limitation, per Ohio state code. The lack of rating distinction between the general obligation unlimited and limited tax debt reflects the state requirement that Ohio cities use all available revenues, including available property tax millage currently assigned to operations for the city and overlapping taxing entities...

Login to your account

Email address:
Password:

Become a member

Register for a MunicipalBonds.com account to get access to a whole new way of tracking, analyzing, and researching bonds.

   Keep track of bonds you own
   Get ratings from S&P for all rated municipal bonds
   View issue history reports
   Access our price archives
...And much more

Register now »

We are providing certain data supplied to us by the Municipal Securities Rulemaking Board ("the Service") without warranties or representations and on an "as-is" basis. WE HEREBY DISCLAIM ALL REPRESENTATIONS AND WARRANTIES (EXPRESS OR IMPLIED), BUT NOT LIMITED TO, WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE REGARDING THE SERVICE. You shall bear all risk, related costs and liability and be responsible for your use of the Service.

The transaction data provided through the Real-Time Transaction Subscription Service represents municipal securities transaction data made available by brokers, dealers, and municipal securities dealers to the MSRB and related information. Such transaction data and/or related information may not exist for all municipal securities and may not be required to be submitted to the MSRB for certain types of municipal securities transactions. The MSRB does not review transaction data submitted by submitters for accuracy, completeness or any other purpose, and does not warrant or guarantee the accuracy of any such transaction data and/or related information.

The MSRB, its officers, directors, employees, agents, consultants, and licensors shall not be liable or responsible to you or anyone else for any losses, injuries, damages, costs, expenses or claims caused by, arising out of or relating to the following: (a) acts, omissions, occurrences or contingencies beyond their control; (b) service interruptions or performance failures, such as those that result from the use of telecommunications facilities that are outside of their control, including the Internet: (c) negligence, gross negligence or willful misconduct in procuring, compiling, interpreting, editing, writing, reporting or delivering any of the content and material; (d) lost, stolen, late, corrupted, misdirected, failed, incomplete or delayed transmissions by anyone using the Service, including, but not limited to, any technical malfunctions, human error, computer viruses, lost data transmissions, omissions, interruptions, deletions, defects, hyperlink failures or line failures of any telephone network, computer equipment, software or any combination thereof; (e) damage to your computer systems, equipment, software, data or other tangible or intangible property resulting from or sustained in connection with your use of the Service; and/or (f) any disruption of business, lost sales or lost profits or any punitive, exemplary, indirect, special, incidental, or consequential damages associated or in connection with, resulting from or arising out of any use of the Service or the content and material in the Service.

The MSRB and its officers, directors, employees, agents, consultants, and licensors shall have no liability in tort, contract, or otherwise (and as permitted by law, product liability) to you or anyone else for any reason associated or in connection with, resulting from or arising out of your use of the Service. The MSRB, its officers, directors, employees, agents, consultants, and licensors make, and have made, no recommendations regarding any of the securities or other investment vehicles, referred to or described in the Service.

The Service is reproduced by permission of the MSRB under a non-exclusive license. The MSRB accepts no responsibility for the accuracy of the reproduction of the Service or that Service is current.