Looking Better

Shields, Yvette
December 2004
Bond Buyer;12/1/2004, Vol. 350 Issue 32020, p39
Trade Publication
This article reports that Moody's Investors Service last week revised its outlook to stable from negative on Davenport, Iowa's Aa2 credit in conjunction with a sale this week of $11.69 million of taxable general obligation bonds. Analysts attributed the outlook, change to Davenport's strengthened financial position and recent economic growth. The city benefits from an undesignated general fund balance in the range of 10% to 15% of general fund revenue. It funds approximately $700,000 of capital improvements annually from a combination of gaming and hotel-motel tax revenues that can be diverted to operations if needed.


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