Hurst, TX GO Debt Ratings Raised To 'AA' Jul 08
- ID: 1785710
- July 2008
- Standard & Poors
DALLAS (Standard & Poor's) July 31, 2008--Standard & Poor's Ratings Services raised its standard long-term rating and underlying rating (SPUR) on Hurst, Texas' general obligation (GO) debt to 'AA' from 'AA-', reflecting management's maintenance of strong reserves, established by policy, which would likely allow the city to maintain its elevated financial condition even in the event of fiscal stresses, such as the cyclical economic downturn that the city suffered through from 2000 to 2002, as well as the current economic contraction. At the same time, Standard & Poor's assigned its 'AA' standard long-term rating to the city's $16.1 million series 2008 tax and waterworks and sewer system revenue certificates of obligation. The outlook on the ratings is stable. An ad...
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