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Hurst, TX GO Debt Ratings Raised To 'AA' Jul 08 Product Image

Hurst, TX GO Debt Ratings Raised To 'AA' Jul 08

  • ID: 1785710
  • July 2008
  • Standard & Poors

Abstract
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...

Companies mentioned in this report are:
- Hurst

Action: New Rating
Action: Upgraded

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.

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Hurst

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