Affirmed: Standard & Poor’s rating service has affirmed the city-parish’s AAA bond rating, the highest possible rating offered by the agency. The rating will apply to three city-parish sales tax-secured bond issues totaling $47 million, Mayor Kip Holden’s office says in a news release. The low interest rate resulting from the S&P and another bond rating will save the city-parish an estimated $5 million when refinancing bond issues, estimated to be about $42 million, the mayor’s office says. Meanwhile, Standard & Poor’s also affirmed Louisiana’s AA credit rating Wednesday and the state’s negative outlook. The credit rating applies to the state’s outstanding general obligation debt. In a statement, State Treasurer John Kennedy says he’s pleased with the rating. “The way forward is clear. We need to address the structural imbalance in our state budget,” he says. “We cannot spend more than we take in year after year.”
Taking top honors: An LSU accounting team placed first in the 2016 Deloitte National Accounting Case Competition, the university has announced. Participating teams were assigned cases based on actual situations Deloitte encountered during audits and presented their findings to a panel of Deloitte partners. The LSU team was assigned a scenario about a company in the gaming industry, transactions with its subsidiaries, and the subsidiary’s bankruptcy proceedings. The team researched applicable accounting rules and determined the proper way to account for and disclose the operations of the subsidiary. They bested teams from Brigham Young University, University of Notre Dame, University of Missouri, Florida A&M University and Miami University of Ohio. LSU was represented by Ellie Bowen of Shreveport; Ethan Collins of Prairieville; Megan Kuether of Beaumont, Texas; Ryan Lachney of Baton Rouge; and Rebecca Werdine of Tampa, Florida.
Making it official: Though she’s had an early start in the 2016 Baton Rouge mayoral race, former State Sen. Sharon Weston Broome will formally announce her campaign during a press conference held at Hilton Garden Inn, 3330 Harding Blvd, at 10 a.m. on Friday. Weston Broome launched a campaign website and social media pages in January to keep her supporters up-to-date on her campaign and platform. Also on Friday, Weston Broome will address issues such as safety, traffic, healthcare and workplace development. She also is expected to voice her support for the Smoke-Free EBR movement. Metro Councilman John Delgado already has announced his intent to run for the office. Others such activist Sarah Holliday-James, real estate broker Darryl Gissel, state Rep. C. Denise Marcelle and attorney Marty Maley are weighing a run.
