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Southside Place, TX's GO SPUR Raised To 'AA+' On Very Strong Financial Position And Wealth Indicators
Standard & Poors, May 2011
DALLAS (Standard & Poor's) May 11, 2011-- Standard & Poor's Rating Services raised its underlying rating (SPUR) to 'AA+' from 'AA-' on Southside Place, Texas' outstanding general obligation (GO) debt. At the same time, Standard & Poor's affirmed its 'AA+' long-term rating on the city's GO debt. The outlook is stable. "The raised rating reflects our view of the city's very strong financial position and very strong wealth and income indicators," said Standard & Poor's credit analyst Sarah Smaardyk. "Further strengthening the rating is the district's sound management and strong reserves." We understand that city officials are contemplating the issuance of additional debt in 2012 or 2013. The 0.2-square-mile of Southside, with an estimated population of about 1,706, is an...
Companies mentioned in this report are: Southside Place
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.
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.