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Bexar County, Texas; General Obligation Jun 10
Standard & Poors, June 2010
Abstract
Standard & Poor's Ratings Services assigned its 'AA+' rating and stable outlook to Bexar County, Texas' $39.4 million series 2010 limited tax refunding bonds. Standard & Poor's also affirmed its ratings on the county's general obligation (GO) debt outstanding. 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 11.3% annually over the past five years; Very strong 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 refunding bonds and contractual obligations. County officials will use...
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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