Township of Hampton
CUSIP 409468HN8
- Issue Currency: United States of America Dollars
- Announcement Date: 07-Nov-2018
- News: S&P Global Ratings raised its long-term rating to `AA` from `AA-` on Hampton Township, Pa.`s general obligation (GO) bonds outstanding. At the same time, S&P Global Ratings assigned its `AA` long-term rating to the township`s $7.25 million series 2018 GO bonds. The outlook is stable. The rating action reflects several factors, the largest being the strengthening of the township`s local economy, improving from a level that we consider strong to very strong. Also improving were the township`s projected income indicators as well as its tax base. With the countywide reassessments, in addition to regular tax-base growth and development, the Hampton`s market value per capita has improved by more than $13,000. Another factor leading to the higher rating is the township`s consistent budgetary performance, which we expect to continue, resulting in better budgetary flexibility, and what we consider a strong level. A pledge of Hampton`s full faith, credit, and resources and an agreement to levy ad valorem property taxes without limitation, as to rate or amount secure the township`s bonds. The township expects to have these bonds certified as self-liquidating, with sewer revenues paying debt service. Bond proceeds will help cover costs of the township`s first phase of a significant sewer capital project.
- Issue Currency: United States of America Dollars
- Announcement Date: 07-Nov-2018
- News: S&P Global Ratings raised its long-term rating to `AA` from `AA-` on Hampton Township, Pa.`s general obligation (GO) bonds outstanding. At the same time, S&P Global Ratings assigned its `AA` long-term rating to the township`s $7.25 million series 2018 GO bonds. The outlook is stable. The rating action reflects several factors, the largest being the strengthening of the township`s local economy, improving from a level that we consider strong to very strong. Also improving were the township`s projected income indicators as well as its tax base. With the countywide reassessments, in addition to regular tax-base growth and development, the Hampton`s market value per capita has improved by more than $13,000. Another factor leading to the higher rating is the township`s consistent budgetary performance, which we expect to continue, resulting in better budgetary flexibility, and what we consider a strong level. A pledge of Hampton`s full faith, credit, and resources and an agreement to levy ad valorem property taxes without limitation, as to rate or amount secure the township`s bonds. The township expects to have these bonds certified as self-liquidating, with sewer revenues paying debt service. Bond proceeds will help cover costs of the township`s first phase of a significant sewer capital project
- Issue Currency: United States of America Dollars
- Announcement Date: 07-Nov-2018
- News: S&P Global Ratings raised its long-term rating to `AA` from `AA-` on Hampton Township, Pa.`s general obligation (GO) bonds outstanding. At the same time, S&P Global Ratings assigned its `AA` long-term rating to the township`s $7.25 million series 2018 GO bonds. The outlook is stable. The rating action reflects several factors, the largest being the strengthening of the township`s local economy, improving from a level that we consider strong to very strong. Also improving were the township`s projected income indicators as well as its tax base. With the countywide reassessments, in addition to regular tax-base growth and development, the Hampton`s market value per capita has improved by more than $13,000. Another factor leading to the higher rating is the township`s consistent budgetary performance, which we expect to continue, resulting in better budgetary flexibility, and what we consider a strong level. A pledge of Hampton`s full faith, credit, and resources and an agreement to levy ad valorem property taxes without limitation, as to rate or amount secure the township`s bonds. The township expects to have these bonds certified as self-liquidating, with sewer revenues paying debt service. Bond proceeds will help cover costs of the township`s first phase of a significant sewer capital project.
