Wasatch County, Utah, 2010 GOs Raised to Aa2 by Moody's

Published February 20, 2015, 7:01 a.m. EST

Updated February 20, 2015, 7:32 a.m. EST

1 Min Read

Moody's Investors Service said it has upgraded Wasatch County, Utah's general obligation refunding bonds, Series 2010 to Aa2 from Aa3.

Processing Content

The county has net direct debt of $13.85 million of which $3.3 million is rated by Moody's.

The rating level reflects the county's strong financial position characterized by robust reserves and ample liquidity and the county's low debt burden.

The rating also reflects the county's moderately sized tax base that has resumed growth, the average resident wealth levels and somewhat limited economy.

MORE FROM BOND BUYER

Secondary bond market

Short-term munis and USTs sell off

Federal Reserve guidance will likely continue to support the long end, MMD's Kevin McGuigan said, but "investors need to be cautious about extending duration right now, given that a lot of the pressure on the long end has been the result of supply concerns."

By Christina Baker
Northeast Reporter

September 18
State budgets

State budgets under stress

With the effects of added Medicaid requirement looming next year, some states are already seeing stress cracks in their reserve fund balances and revenue levels.

By Scott Sowers

September 18
Career moves

TD Securities hires Burton to boost muni sales in Charlotte

Burton brings 35 years of municipal sales experience, most recently at Cantor Fitzgerald.

By Robert Slavin
Southeast Reporter

September 18
Texas

Federal agency OKs Medicaid funding for Texas

Healthcare providers will receive nearly $12 billion in funding in fiscal 2027 with federal approval of the state's Medicaid directed payment programs.

By Karen Pierog
Senior Reporter

September 18
ETFs

Growing ETF preference leads to mutual fund conversions

Since 2021, 223 mutual fund-to-ETF conversions have been completed, including 24 involving munis, according to Morningstar data.

By Jessica Lerner
Senior reporter and buy-side specialist

September 18
Career moves

Rees joins Stephens Public Finance

With more than 25 years in executive leadership in Texas public education, Rees will develop bond underwriting opportunities in the state, a Stephens statement said.

September 18