Standard & Poor's Ratings Services assigned its 'AA-' long-term rating to San Marcos, Texas' series 2010 general obligation (GO) refunding bonds. At the same time, Standard & Poor's affirmed its 'AA-' rating and underlying rating (SPUR) on the city's existing GO debt. The outlook on all ratings is stable. The ratings reflect our view of the city's: Role as a retail and distribution center in central Texas, and its direct access to both the Austin, Texas and San Antonio, Texas MSAs; Diverse tax base, coupled with historical assessed value (AV) growth, despite a minimal decline in fiscal 2011; and Strong financial performance and high reserves, which are boosted by the city's strong financial management policies. These strengths are somewhat offset...
Companies mentioned in this report are:
- San Marcos
Action: New Rating
Action: Outlook: Stable
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