As I was reading through the material on the city website about the opportunity to directly purchase some of the upcoming $10.5M of storm drain revenue bonds, I found this handy credit rating round-up under the FAQ section.

Q: How are the City's bonds rated?
A: As of July 2010 bond ratings depend upon a number of factors developed by the rating agencies that rate the bonds, and take into consideration the security features designed to insure the payment of debt service on the particular bonds. Some bonds with the same underlying credit features might have different credit ratings assigned.

As of June 2010, the City's underlying bond ratings are as follows:

Type of Bonds	Standard & Poor's
Water/Wastewater Revenue Bonds	AA+
Pension Obligation Bonds	AA
Lease Revenue Bonds	AA
Storm Drainage Revenue Bonds	A+

 

 

 

You have about a week to think about it.  Minimum investment is $5K.