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Allen, TX GO Bond Rating Raised To 'AA+' Apr 08
Standard & Poors, April 2008
Abstract
DALLAS (Standard & Poor's) April 22, 2008--Standard & Poor's Ratings Services raised its standard long-term rating and underlying rating (SPUR) on Allen, Texas' general obligation (GO) bonds to 'AA+' from 'AA'. The outlook is stable. The upgrade reflects continued tax base growth and diversification and the maintenance of very strong general fund balance reserves. The rating action affects roughly $88.6 million of GO debt. In addition, Standard & Poor's assigned its 'AA+' rating to the city's series 2008 GO bonds. Credit factors supporting the 'AA+' rating include an economic base that has grown rapidly, that now has a diverse mix of residential, commercial and industrial components; high wealth and income levels; access to the large and diverse north-central Texas employment...
Companies mentioned in this report are: Allen
Action: Upgraded
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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