Greer, SC Assigned #AA# Issuer Credit Installment Purchase Revenue Bonds Rated #AA-#

Stocks and Financial Services Press Releases Wednesday November 15, 2017 08:47
DALLAS--15 Nov--S&P Global Ratings

DALLAS (S&P Global Ratings) Nov. 14, 2017--S&P Global Ratings assigned its 'AA' issuer credit rating to Greer, S.C., and its 'AA-' long-term rating to the city's series 2017A and 2017B installment purchase revenue bonds. The outlook is stable.

Under an installment-purchase-and-use agreement, the city pledges to put forth its best efforts to seek an annual appropriation to make the installment payments out of all legally available sources. The 'AA-' long-term rating assignment reflects this appropriation risk.

Proceeds from the bonds will be used to finance a parking facility, infrastructure and streetscape, and improvements to the city's cultural arts center and park.

"The issuer credit rating reflects our opinion of the city's strong management and very strong budgetary performance, budgetary flexibility, and liquidity," said S&P Global Ratings credit analyst Karolina Norris.

The stable outlook reflects our expectation that the city will continue to benefit from participation in the broad and diverse economies of Greenville and Spartanburg Counties, and that it will likely maintain very strong budgetary performance, flexibility, and liquidity, supported by strong management practices. Consequently, we don't anticipate changing the rating within the two-year outlook horizon.

Certain terms used in this report, particularly certain adjectives used to express our view on rating relevant factors, have specific meanings ascribed to them in our criteria, and should therefore be read in conjunction with such criteria. Please see Ratings Criteria at for further information. Complete ratings information is available to subscribers of RatingsDirect at All ratings affected by this rating action can be found on the S&P Global Ratings' public website at Use the Ratings search box located in the left column.

Latest Press Release

Photo Release: SCB and Sasin cooperate for SCB Future Leader Challenge (SCBFLC)

For the fifth year in a row Siam Commercial Bank (SCB) and the Sasin Graduate Institute of Business Administration of Chulalongkorn University have joined hands to organize the SCB Future Leader Challenge (SCBFLC) 2018. The program allows master's degree...

CPT to Pay Out Promised 100% of Net Profit in Dividends (THB 0.14/Share), Announces FY2017 Net Profit Surge Propelled by Across-the-Board Successes, Expects 10% Growth in FY2018 Driven by New Plant, Products

CPT decided to pay out 100% of its net profit, at THB 0.14 per share, to the shareholders after posting THB 140.71 m in net profit for FY2017, a 16.15% rise, thanks to excellent sales growth in the power distribution panel and servicing segments and a...

Agriculture Is Creating Higher Income Jobs in Half of EU Member States but Others Are Struggling

BRUSSELS, February 19, 2018 – Half of EU member states have leveraged the Common Agricultural Policy (CAP) to significantly reduce poverty and drive higher incomes in farming, while other countries are still lagging, according to the latest World...

Poland-Based Debt Purchaser GetBack S.A. Outlook Revised To #B/B# Ratings Affirmed

MOSCOW (S&P Global Ratings) Feb. 19, 2018--S&P Global Ratings said today that it has revised its outlook on Poland-based distressed-debt purchaser GetBack S.A. to positive from stable. At the same time, we affirmed our 'B' long-term and 'B'...

Trade/Project Financier, Bachmann Welser To Launch USD 2 billion Project Finance Fund

Global Trade/Project Financier, Bachmann & Welser will launch a USD 2 billion Project finance fund in March 2018 with funds that will be backed by several private and institutional investors. (Logo:...

Related Topics