- Language: English
- Published: May 2013
- Region: Texas
Summary: Allen, Texas; General Obligation May 10
- ID: 1783676
- May 2010
- Region: Texas
- Standard & Poors
Standard and Poor's Rating Services raised its long-term and underlying rating (SPUR) to 'AAA' from 'AA+' on Allen, Texas' outstanding general obligation (GO) bonds, due to the city's diverse and rapidly growing economic base and maintenance of a very strong financial position. At the same time, Standard & Poor's assigned its 'AAA' long-term rating to the city's series 2010 GO bonds. The outlook is stable. Credit factors supporting the 'AAA' 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; History of very strong reserve levels and thorough...
Companies mentioned in this report are:
Action: New Rating
Action: Outlook: Stable
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included. SHOW LESS READ MORE >