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
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