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Outlook Revised To Negative On Weslaco, TX's GO Bonds Due To Low Reserves, Ongoing Structural Imbalance Sep 11
Standard & Poors, September 2011
DALLAS (Standard & Poor's) Sept. 22, 2011-- Standard & Poor's Ratings Services revised its outlook to negative from stable and affirmed its 'BBB+' long-term and underlying rating (SPUR) on Weslaco, Texas' general obligation debt. "The negative outlook reflects our view of the city's reserves, which are low relative to the magnitude of its ongoing structural imbalance," said Standard & Poor's credit analyst Sarah Smaardyk. "We could lower the rating if the city's financial profile does not improve or deteriorates further," Ms. Smaardyk added. Management has conveyed to us that they plan to issue bonds in fiscal 2012 for a new water treatment facility. RELATED CRITERIA AND RESEARCH USPF Criteria: GO Debt, Oct. 12, 2006...
Companies mentioned in this report are: Weslaco
Action: Outlook: Negative
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Research type: News
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