Outlook On Cameron County, TX GO Rating Revised To Negative From Stable On Budgetary Imbalances May 11
- ID: 1818935
- May 2011
- Standard & Poors
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: New Rating
Action: Outlook: Negative
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