City of Rock Hill, SC: Update to credit analysis - Moody's Global Credit Research

City of Rock Hill, SC: Update to credit analysis

City of Rock Hill, SC: Update to credit analysis - Moody's Global Credit Research
City of Rock Hill, SC: Update to credit analysis
Published May 09, 2024
12 pages (5764 words) — Published May 09, 2024
Price US$ 250.00  |  Buy this Report Now

About This Report

  
Brief Excerpt:

...The City of Rock Hill, SC's (Aa3 stable) growth trend and sound financial management will support its fiscal position going forward. Rock Hill's population, tax base and economic activity are all growing healthily ¡ retail sales in the city have surged 78% over the past decade and the city has added 1,500 housing units in the past five years. The robust growth helps to offset below-average resident income (median household income adjusted for regional purchasing power is 83.5% of the US median) and somewhat above-average leverage, with long-term liabilities at 256% of revenue. An important credit consideration for the city is its large utility funds, which consist of electric, water, sewer and stormwater services and represent the majority of its revenue and debt. Given a demonstrated willingness to raise rates and maintain healthy operating margins in these funds, the city's leverage is manageable....

  
Report Type:

Credit Opinion

Issuer
Rock Hill (City of) SC
Format:
PDF Adobe Acrobat
Buy Now

Moody's Ratings assigns A1 to Rock Hill, SC's 2024A Hospitality Fee Bonds; affirms outstanding ratings, assigns stable outlook - Rating Action – 2024/05/09 – US$ 180.00 – ...MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS, AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS AND IT WOULD BE RECKLESS AND INAPPROPRIATE FOR RETAIL INVESTORS TO USE MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS OR PUBLICATIONS WHEN MAKING AN INVESTMENT DECISION. IF IN DOUBT YOU SHOULD CONTACT YOUR FINANCIAL OR OTHER PROFESSIONAL ADVISER. ALL INFORMATION CONTAINED HEREIN IS PROTECTED BY LAW, INCLUDING BUT NOT LIMITED TO, COPYRIGHT LAW, AND NONE OF SUCH INFORMATION MAY BE COPIED OR OTHERWISE REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED, REDISTRIBUTED OR RESOLD, OR STORED FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS WHATSOEVER, BY ANY PERSON WITHOUT MOODY'S PRIOR WRITTEN CONSENT. MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY ANY PERSON AS A BENCHMARK AS THAT TERM IS DEFINED FOR REGULATORY PURPOSES AND MUST NOT BE USED IN ANY WAY THAT...

Moody's assigns A2 to Rock Hill (City of) SC Combined Utility Enterprise's Series 2024 revenue bonds; outlook stable - Rating Action – 2024/01/10 – US$ 180.00 – ...MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS, AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS AND IT WOULD BE RECKLESS AND INAPPROPRIATE FOR RETAIL INVESTORS TO USE MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS OR PUBLICATIONS WHEN MAKING AN INVESTMENT DECISION. IF IN DOUBT YOU SHOULD CONTACT YOUR FINANCIAL OR OTHER PROFESSIONAL ADVISER. ALL INFORMATION CONTAINED HEREIN IS PROTECTED BY LAW, INCLUDING BUT NOT LIMITED TO, COPYRIGHT LAW, AND NONE OF SUCH INFORMATION MAY BE COPIED OR OTHERWISE REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED, REDISTRIBUTED OR RESOLD, OR STORED FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS WHATSOEVER, BY ANY PERSON WITHOUT MOODY'S PRIOR WRITTEN CONSENT. MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY ANY PERSON AS A BENCHMARK AS THAT TERM IS DEFINED FOR REGULATORY PURPOSES AND MUST NOT BE USED IN ANY WAY THAT...

City of Rock Hill, SC:Annual comment onRock Hill - Issuer Comment – 2023/06/14 – US$ 200.00 – ...Economy Resident income ratio Median Household Income (MHI) for the city or county, adjusted for Regional Price Parity (RPP), as a % of the US MHI MHI: US Census Bureau - American Community Survey 5-Year Estimates RPP: US Bureau of Economic Analysis Full value Estimated market value of taxable property in the city or county State repositories; audited financial statements; continuing disclosures Population Population of the city or county US Census Bureau - American Community Survey 5-Year Estimates Full value per capita Full value / population Economic growth metric Five year CAGR of real GDP for Metropolitan Statistical Area or county minus the five-year CAGR of real GDP for the US Real GDP: US Bureau of Economic Analysis Financial performance Revenue Sum of revenue from total governmental funds, operating and non- operating revenue from total business-type activities, and non- operating revenue from internal services funds, excluding transfers and one-time revenue, e.g., bond proceeds...

Rock Hill (City of) SC: Update to credit analysis - Credit Opinion – 2021/03/04 – US$ 250.00 – ...The City of Rock Hill, South Carolina's (Aa3) strong economy and population trends; favorable location within the Charlotte, NC (Aaa stable) metropolitan area; and prudent financial management will continue to be key mitigants to the city's slightly above average debt and pension burdens and relatively low fund balance. While the coronavirus outbreak and related economic slowdown has adversely impacted some of the city's revenue streams, city management implemented various expense controls to help offset the loss. Additionally, the local economy is showing signs of improvement and is competitively positioned for growth moving forward....

Moody's assigns Aa3 to Rock Hill, SC's GO bonds - Rating Action – 2021/03/04 – US$ 180.00 – ...MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS, AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS AND IT WOULD BE RECKLESS AND INAPPROPRIATE FOR RETAIL INVESTORS TO USE MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS OR PUBLICATIONS WHEN MAKING AN INVESTMENT DECISION. IF IN DOUBT YOU SHOULD CONTACT YOUR FINANCIAL OR OTHER PROFESSIONAL ADVISER. ALL INFORMATION CONTAINED HEREIN IS PROTECTED BY LAW, INCLUDING BUT NOT LIMITED TO, COPYRIGHT LAW, AND NONE OF SUCH INFORMATION MAY BE COPIED OR OTHERWISE REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED, REDISTRIBUTED OR RESOLD, OR STORED FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS WHATSOEVER, BY ANY PERSON WITHOUT MOODY'S PRIOR WRITTEN CONSENT. MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY ANY PERSON AS A BENCHMARK AS THAT TERM IS DEFINED FOR REGULATORY PURPOSES AND MUST NOT BE USED IN ANY WAY THAT...

More from Moody's Global Credit Research

Moody's Global Credit Research—Moody's Investors Service, a leading global credit rating, research and risk analysis firm, publishes credit opinions, research, and ratings on fixed-income securities, issuers of securities and other credit obligations. Credit ratings and research help investors analyze the credit risks associated with fixed-income securities. Ratings also create efficiencies in fixed-income markets and similar obligations, such as insurance and derivatives, by providing reliable, credible, and independent assessments of credit risk. For issuers, Moody's services increase market liquidity and may reduce transaction costs.

About the Author


Cite this Report

  
MLA:
Moody's Global Credit Research. "City of Rock Hill, SC: Update to credit analysis" May 09, 2024. Alacra Store. May 20, 2024. <http://www.alacrastore.com/moodys-credit-research/City-of-Rock-Hill-SC-Update-to-credit-analysis-PBM_1407449>
  
APA:
Moody's Global Credit Research. (). City of Rock Hill, SC: Update to credit analysis May 09, 2024. New York, NY: Alacra Store. Retrieved May 20, 2024 from <http://www.alacrastore.com/moodys-credit-research/City-of-Rock-Hill-SC-Update-to-credit-analysis-PBM_1407449>
  
US$ 250.00
$  £  
Have a Question?

Any questions about the report you're considering? Our Customer Service Team can help! Or visit our FAQs.

More Research

Search all our Credit Research from one place.