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El Paso, Texas; General Obligation Aug 11
Standard & Poors, August 2011
Standard & Poor's Ratings Services assigned its 'AA' long-term rating to El Paso, Texas' series 2011 combination tax and revenue taxable certificates of obligation and series 2011 general obligation (GO) refunding bonds. At the same time, we affirmed our 'AA' long-term rating on the city's previously issued GO debt. The outlook on the ratings is stable. The ratings reflect our opinion of the city's: Deep, diverse, and stable economy, anchored by a strong government presence; Preeminence as a regional economic center due to its strong access to international trade routes; and Strong financial management practices. Partly offsetting the above strengths is our view of the city's: Adequate but below-average wealth and income levels, and Moderately high overall net debt as...
Companies mentioned in this report are:
- El Paso
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