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Alamo Community College District, Texas; Tax Secured, General Obligation Aug 05
Standard & Poors, Aug 2005
Abstract
Standard & Poor's Ratings Services assigned its 'AA' rating, and stable outlook, to Alamo Community College District, Texas' series 2005 maintenance tax notes. The rating reflects the district's: Deep, diverse property tax base, which includes the San Antonio MSA and is coterminous with Bexar County ('AA'/Stable GO debt rating); Sound financial position with a diverse revenue stream, strong state support for operations despite past tight state budgets, and solid reserve levels; and Moderate overall net debt burden, providing for additional bonding capacity, which is a necessity given the district's identified capital requirements. These strengths are moderated by the district's: Significant growth-driven facility requirements, and Difficulty in gaining electorate approval for a GO bond authorization. The district's ad valorem property tax...
Companies mentioned in this report are: Alamo Comnty Coll Dist
Action: New Rating
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: Full Analysis
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