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Burleson, Texas; General Obligation
Standard & Poors, April 2010
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.
Research Type: Full Analysis
Abstract
Standard & Poor's Ratings Services assigned its 'AA-' long-term rating, and stable outlook, to Burleson, Texas' series 2010 general obligation (GO) refunding and improvement bonds and affirmed its 'AA-' underlying rating (SPUR), with a stable outlook, on the city's existing GO debt. In our view, the rating reflects the city's: Inclusion in the strong Fort Worth-Arlington metropolitan statistical area (MSA) economy and labor market; Strong financial position, evidenced by stable financial operations and very strong reserves; and Diverse and expanding residential property tax base. In our opinion, the city's moderate overall net debt burden, coupled with additional growth-related capital needs, constrain the rating. The city's full faith and credit GO pledge and ad valorem tax levied against all taxable property...
Companies mentioned in this report are: Burleson
Action: New Rating
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