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Outlook On Cameron County, TX GO Rating Revised To Negative From Stable On Budgetary Imbalances May 11 Product Image

Outlook On Cameron County, TX GO Rating Revised To Negative From Stable On Budgetary Imbalances May 11

  • ID: 1818935
  • May 2011
  • Standard & Poors

Abstract
DALLAS (Standard & Poor's) May 24, 2011--Standard & Poor's Ratings Services revised its outlook on Cameron County, Texas' general obligation (GO) debt to negative from stable. "The outlook revision is based on the county's trend of budgetary imbalances that have led to a significant reduction in the county's available general fund reserves," said Standard & Poor's credit analyst Horacio Aldrete-Sanchez. While county officials have expressed their willingness to take action to restore the county's reserves, there has been limited action to date and we believe that the challenging economic environment may limit management's ability to increase the county's available cash reserves to its policy-required levels within the next two years. We believe that decisive management action to restore the county's...

Companies mentioned in this report are: Cameron Cnty
Action: Affirmed
Action: New Rating
Action: Outlook: Negative

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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Cameron Cnty

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