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Bexar County, Texas; General Obligation Nov 08
Standard & Poors, Nov 2008
Abstract
Standard & Poor's Ratings Services assigned its 'AA+' rating to Bexar County, Texas' series 2008 pass-through revenue and limited tax bonds. The rating reflects our view of the county's: Diverse economy, which has a strong military presence and a growing service sector that includes tourism and health services; Solid property tax base growth, which has averaged more than 9% annually over the past five years; Very high level of reserves; and Moderately high overall debt burden due mostly to the significant issuance of underlying entities. The county's limited ad-valorem tax pledge secures the series 2008 pass-through revenue bonds. In addition, the bonds are secured by a subordinate lien on the revenues derived from the county's pass-through agreement with the Texas...
Companies mentioned in this report are: Bexar Cnty
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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