San Marcos, Texas; General Obligation Jun 09

Standard & Poors, June 2009

Abstract
Standard & Poor's Ratings Services assigned its 'AA-' long-term rating, and stable outlook, to San Marcos, Texas' series 2009 general obligation (GO) refunding bonds, series 2009 tax and revenue refunding bonds, series 2009 combined tax and revenue certificates of obligation, and series 2009 GO bonds. At the same time, Standard & Poor's affirmed its 'AA-' underlying rating (SPUR) on the city's existing GO debt. The outlook is stable. The ratings reflect our view of the city's: Local economy, which serves as a retail and distribution center in central Texas, coupled with its direct access to both the Austin and San Antonio MSAs; Strong historical assessed valuation (AV) growth; and Strong financial performance, leading to high reserves, boosted by strong policies...

Companies mentioned in this report are:
- San Marcos

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

- San Marcos

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