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Summary: Kerrville, Texas; General Obligation Nov 11
Standard & Poors, November 2011
Standard & Poor's Ratings Services assigned its 'AA-' long-term rating, and stable outlook, to Kerrville, Texas' series 2011A combination tax and revenue certificates of obligation. At the same time, Standard & Poor's affirmed its 'AA-' long-term and underlying ratings on the city's general obligation (GO) debt outstanding. The outlook on this debt is stable. The ratings reflect what we view as the city's: Stable local economy and strong wealth levels; Very strong financial position; and Strong financial management practices. These strengths are offset in part by what we consider Kerrville's: Additional capital needs in the next two years; Adequate income levels; and Limited, but expanding, local employment base that is somewhat reliant on the more cyclical tourism industry. The certificates...
Companies mentioned in this report are: Kerrville
Action: New Rating
Action: Outlook: Stable
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.