Baldwin, GA Water Sewer Refunding Revenue Bond Rating Withdrawn Due To Lack Of Timely Information

Stocks and Financial Services Press Releases Friday June 8, 2018 09:43
CENTENNIAL--8 Jun--S&P Global Ratings
CENTENNIAL (S&P Global Ratings) June 7, 2018--S&P Global Ratings withdrew its 'A+' long-term rating on Baldwin, Ga.'s series 2012 water and sewer refunding revenue bonds.

"The withdrawal reflects the city's inability to provide its 2016 audit in sufficient time necessary to maintain the rating despite repeated attempts by S&P Global Ratings by e-mail and phone," said S&P Global Ratings credit analyst John Schulz.

We also note that during the past four years, the city has continually not met its continuing disclosure covenant to provide certain financial information no later than 210 days of each fiscal year-end to post on the Electronic Municipal Market Access system.

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 S&P Global Ratings' public website at www.standardandpoors.com. Use the Ratings search box located in the left column.


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