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Summary: Highland Village, Texas; General Obligation Apr 11
Standard & Poors, April 2011
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
Standard & Poor's Ratings Services assigned its 'AA+' long-term rating to Highland Village, Texas' series 2011 general obligation (GO) refunding bonds. At the same time, Standard & Poor's affirmed its 'AA+' long-term and underlying ratings (SPUR) on the city's outstanding GO debt. The outlook is stable. Credit factors supporting the 'AA+' ratings include our opinion of the city's: Access to the large and diverse north-central Texas employment base; Very strong wealth and income indicators; History of very strong reserve levels and conservative management practices; and Limited additional capital needs. In our opinion, these strengths are somewhat offset by the city's high overall debt levels and elevated carrying charges. The bonds are secured by unlimited ad valorem taxes levied within the...
Companies mentioned in this report are: Highland Vill
Action: New Rating
Action: Outlook: Stable