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Summary: Mesquite, TX; Tax Secured, General Obligation Jul 04
Standard & Poors, July 2004
Standard & Poor's Ratings Services assigned its 'AA' rating to Mesquite, Texas' combination tax and revenue certificates of obligations, series 2004A. In addition, Standard & Poor's affirmed its 'AA' and 'AA' underlying rating (SPUR) on the city's outstanding debt. The 'AA' rating reflects the city's: Location in the Dallas-Fort Worth MSA and participation in the expanding regional economy; Growing and diverse tax base; and Good financial performance and strong general fund balance. A mitigating factor is the dependence of the city's general fund on transfers from the water and sewer enterprise fund. The bonds, certificates, and contractual obligations are secured by ad valorem taxes limited to $2.50 per $100 of assessed value (AV). The city's current ad valorem tax rate...
Companies mentioned in this report are: Mesquite
Action: New Rating
Action: Outlook: Stable
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