Clarke County, AL #A# Debt Rating Placed On CreditWatch Negative On Delayed 2016 Audit

Stocks and Financial Services Press Releases Thursday March 8, 2018 11:36
CENTENNIAL--8 Mar--S&P Global Ratings

CENTENNIAL (S&P Global Ratings) March 7, 2018--S&P Global Ratings placed its 'A' long-term rating on Clarke County, Ala.'s previously rated appropriation and general obligation (GO) debt on CreditWatch with negative implications.

"We placed the rating on Watch Negative because the county has not provided its 2016 audit," said S&P Global Ratings credit analyst Chase Ashworth, "and we believe that there is uncertainty regarding its economic metrics, including declining population and fluctuating economic income indicators, and their potential effects on the county's otherwise strong financial performance." We consider receipt of the county's 2016 audit necessary to maintain the rating.

"Failure to receive the requested information within 90 days will likely result in our withdrawal of the affected rating, preceded, in accordance with our policies, by any change to the rating that we consider appropriate given available information," added Mr. Ashworth. However, if we receive information that we consider sufficient and of satisfactory quality, we will conduct a full review and take a rating action within 90 days of the CreditWatch placement.

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 www.standardandpoors.com for further information. Complete ratings information is available to subscribers of RatingsDirect at www.capitaliq.com. All ratings affected by this rating action can be found on the S&P Global Ratings' public website at www.standardandpoors.com. Use the Ratings search box located in the left column.


Latest Press Release

Qinghai Provincial Investment Group #BB-# Ratings Placed On CreditWatch Negative On Heightened Refinancing Risk

HONG KONG (S&P Global Ratings) June 21, 2018--S&P Global Ratings today placed its 'BB-' long-term issuer credit rating on Qinghai Provincial Investment Group Co. Ltd. (QPIG) on CreditWatch with negative implications. At the same time, we placed...

Various Rating Actions Taken In Spanish RMBS Transaction Hipocat 10 Following Review

MADRID (S&P Global Ratings) June 21, 2018--S&P Global Ratings today raised and removed from CreditWatch positive its credit ratings on Hipocat 10, Fondo de Titulizacion de Activos' class A2 and A3 notes. At the same time, we affirmed our ratings...

New Capital Markets Study: International Public Companies Get Home Market and US Boost From Cross-Trading on OTCQX

- Independent Study finds international companies trading on OTCQX experience enhanced value and liquidity in their home markets after joining International companies, with a primary listing outside the US, experienced a 28% increase in trading volume...

Abraaj Holdings, Abraaj Investment Management Limited and Colony Capital, Inc. Successfully Agree on Transaction

- Transaction also includes the acquisition of Abraaj's stakes and commitments in and to those Funds - Transaction includes interim support solution for remaining Funds Abraaj Holdings, Abraaj Investment Management Limited (together "the Group") and...

New Flagship Museum-Retail Complex K11 MUSEA Announced in Hong Kong, Transforming Hong Kong#s Celebrated US$2.6bn Victoria Dockside D Opens in Q3 2019

New World Development, one of Asia's most celebrated developers, announces today the naming of the most ambitious project to date from its ground-breaking K11 Group: K11 MUSEA, a new museum-retail complex situated in the heart of Hong Kong's US$2.6...

Related Topics