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Alamo Community College District, Texas; General Obligation Aug 09
Standard & Poors, Aug 2009
Abstract
Standard & Poor's Ratings Services raised its long-term and underlying rating (SPUR) on Alamo Community College District, Texas' general obligation (GO) debt to 'AA+' from 'AA' based on the maintenance of strong operating margins, coupled with significant revenue-raising flexibility. At the same time, Standard & Poor's assigned its 'AA+' long-term rating to the district's series 2009 maintenance tax notes. The outlook on all ratings is stable. In our view, the rating reflects the district's: Deep, diverse property tax base, including the San Antonio metropolitan statistical area (MSA) ('AAA/Stable' GO debt rating), which is coterminous with Bexar County ('AA+/Stable' GO debt rating); Strong assessed value (AV) growth of more than 49% over the past five years; Sound financial position with a...
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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