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Brownsville, Texas; General Obligation Jul 11
Standard & Poors, July 2011
Abstract
Standard & Poor's Ratings Services assigned its 'A+' long-term rating to Brownsville, Texas' series 2011 general obligation (GO) refunding bonds and series 2011 combination tax and revenue certificates of obligation. At the same time, Standard & Poor's affirmed its 'A+' underlying rating (SPUR) on the city's existing GO debt. The outlook on all ratings is stable. The ratings reflect our opinion of the city's: Diverse local economy comprising international trade, retail, and services, as well as government employment; Continued maintenance of very strong financial position and reserves; and Good financial management practices. Partially offsetting the above strengths is our view of the city's: Low wealth and income levels; Exposure to potential disruptions or declines in cross-border trade; and Moderate overall...
Companies mentioned in this report are: Brownsville
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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