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Summary: Hurst, Texas; General Obligation
Standard & Poors, May 2011
Standard & Poor's Ratings Services assigned its 'AA' rating to Hurst, Texas' series 2011 general obligation (GO) refunding bonds. Standard and Poor's also affirmed its 'AA' long-term and underlying rating (SPUR) on the district's existing parity debt. The outlook on all ratings is stable. The rating reflects our view of the city's: Vibrant and diversified economic and employment base; Conservative and sophisticated financial management policies that include a four-level contingency plan and a retail retention system; and Strong general fund reserves, which are augmented by additional reserves in various funds. An ad valorem tax, limited by law to $2.50 per $100 of AV and levied against all taxable property within the city, secures the bonds. Officials will use proceeds to...
Companies mentioned in this report are: Hurst
Action: New Rating
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