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Allen, Texas; Tax Secured, General Obligation Feb 05
Standard & Poors, Feb 2005
Abstract
The 'AA-' rating on Allen, Texas' GO refunding bonds series 2005 reflects the city's: Above-average wealth and income levels, Historically strong financial position with healthy reserves, and Strong growth in sales and property tax revenues. The city's high overall net debt and high annual debt service requirement, as well as the expectation that growth pressures will cause debt ratios to remain high, continue to offset, in part, these strengths. The city's full faith and credit pledge secures the bonds. Allen's location 25 miles north of Dallas' central business district has contributed to its rapid growth as a residential community in the Dallas-Fort Worth MSA. The city's population has grown dramatically, more than doubling over the past seven years to more...
Companies mentioned in this report are: Allen
Action: New Rating
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
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