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Allen, Texas; General Obligation May 09
Standard & Poors, May 2009
Abstract
Standard & Poor's Rating Services assigned its 'AA+' rating to Allen, Texas' series 2009 general obligation (GO) bonds. In addition, Standard & Poor's affirmed its 'AA+' rating on the city's GO bonds outstanding. The outlook is stable. Credit factors supporting the 'AA+' rating include our opinion of the city's: Economic and property tax base, which has grown rapidly to include a diverse mix of residential, commercial, and industrial components, High wealth and income levels, Access to the large and diverse north-central Texas employment base, A history of very strong reserve levels and thorough planning processes, and Moderate overall net debt levels. An ad valorem property tax pledge secures the series 2009 bonds. City officials plan to use proceeds from the...
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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