Whitestown Municipal Facilities Building Corporation

• Issue Currency: United States of America Dollars
• Announcement Date: 12-Nov-2018
• News: S&P Global Ratings raised its long-term rating on the Town of Whitestown, Ind.`s ad valorem tax-secured bonds one notch to `AA` from `AA-`. The outlook is stable. S&P Global Ratings also assigned its `AA` long-term rating and stable outlook to Whitestown Redevelopment Authority`s $6.42 million lease rental revenue bonds series 2018, issued for Whitestown. ""The upgrade reflects our view that the town`s economic and management profiles have continued to strengthen,"" said S&P Global Ratings credit analyst Anna Uboytseva. ""Whitestown`s tax base expanded at a faster-than-anticipated rate and this resulted in an overall improvement of the town`s economic assessment. Management also continued to diligently follow its newly adopted financial management practices and policies in 2018,"" Ms. Uboytseva added. While Whitestown`s fiscal and economic positions are much improved, we partially attribute the gains to a combination of cyclically favorable economic conditions, a positive revenue environment (availability of the new public safety income tax revenue in 2017 and a property tax override), and still somewhat small budget and service base. Over the long term, budget management will play a key role in Whitestown`s credit profile until the service base and town`s budget reach maturity

• Issue Currency: United States of America Dollars
• Announcement Date: 13-Nov-2018
• News: S&P Global Ratings raised its long-term rating on the Town of Whitestown, Ind.`s ad valorem tax-secured bonds one notch to `AA` from `AA-`. The outlook is stable. S&P Global Ratings also assigned its `AA` long-term rating and stable outlook to Whitestown Redevelopment Authority`s $6.42 million lease rental revenue bonds series 2018, issued for Whitestown. ""The upgrade reflects our view that the town`s economic and management profiles have continued to strengthen,"" said S&P Global Ratings credit analyst Anna Uboytseva. ""Whitestown`s tax base expanded at a faster-than-anticipated rate and this resulted in an overall improvement of the town`s economic assessment. Management also continued to diligently follow its newly adopted financial management practices and policies in 2018,"" Ms. Uboytseva added. While Whitestown`s fiscal and economic positions are much improved, we partially attribute the gains to a combination of cyclically favorable economic conditions, a positive revenue environment (availability of the new public safety income tax revenue in 2017 and a property tax override), and still somewhat small budget and service base. Over the long term, budget management will play a key role in Whitestown`s credit profile until the service base and town`s budget reach maturity.