Summary: Garland Independent School District, Texas; General Obligation; School State Program Apr 12
- Language: English
- Published: April 2012
- Region: Texas
Standard & Poor's Ratings Services assigned its 'AA' rating and stable outlook to Garland, Texas' series 2011 water and sewer system revenue bonds. At the same time, Standard & Poor's affirmed its 'AA' underlying rating (SPUR) on the city's parity revenue debt. The ratings reflect our view of the system's general creditworthiness, including: The stable and diverse service area economy, which participates in the Dallas-Fort Worth metropolitan area, as well as the customer base's above-average wealth; The water system's role as a distributor of North Texas Municipal Water District treated water, greatly reducing operational and financial risk to the city; and The system's sound overall financial position. A first-lien net revenue pledge of the waterworks and sanitary sewer system secures...
Companies mentioned in this report are:
Action: New Rating
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included. SHOW LESS READ MORE >