Summary: San Angelo, Texas; General Obligation Jun 11

Standard & Poors, June 2011

Abstract
Standard & Poor's Ratings Services assigned its 'AA' long-term rating to San Angelo, Texas' series 2011 combination tax and limited surplus revenue certificates of obligation. At the same time, Standard & Poor's affirmed its 'AA' long-term rating and underlying rating (SPUR) on the city's existing GO debt. The outlook on all ratings is stable. The ratings reflect our view of the city's: Diverse local economy, which serves as a regional service and trade center; Currently good general fund reserves, which management expects to increase significantly in fiscal 2011; and Moderate debt burden, coupled with average principal amortization. These factors are offset, in part, by our view of: The city's tax rate, which is above those of comparable cities in the...

Companies mentioned in this report are:
- San Angelo

Action: Affirmed
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.

- San Angelo

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