Fitch Affirms Akron, OH’s IDR and GO Bonds at ‘A+’; Outlook Stable

Fitch Ratings – New York – 27 Sep 2022: Fitch Ratings has affirmed the following Akron, OH ratings at ‘A+’:

–$13.1 million limited tax general obligation (LTGO) bonds;

–Issuer Default Rating (IDR).The Rating Outlook is Stable. SECURITY The LTGO bonds are general obligations of the city payable from the proceeds of its ad valorem tax levy, subject to the 10.5 mill limitation imposed by the city charter. The series 2017A and 2017B bonds will carry an additional pledge of the city’s basic income tax. ANALYTICAL CONCLUSION The ‘A+’ rating reflects Fitch’s expectations for stagnant revenue growth without revenue-raising measures and Fitch’s […]

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