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Summary: Gainesville, Texas; General Obligation Dec 11

  • ID: 2033539
  • December 2011
  • Region: Texas
  • Standard & Poors
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Standard & Poor's Ratings Services assigned its 'A+' long-term rating to Gainesville, Texas' series 2012 general obligation (GO) refunding bonds. At the same time, Standard & Poor's affirmed its 'A+' long-term and underlying rating (SPUR) on the city's outstanding parity debt. The outlook on all ratings is stable. Factors that support the rating, in our view, are the city's: Strong financial position, Good financial management policies and practices, and Limited additional debt needs. In our view, the city's stable, but limited, employment base and moderately high debt as a percent of market value preclude a higher rating. A limited ad valorem tax levied by the city and a limited pledge of net revenues of the city's waterworks and sewer system...

Companies mentioned in this report are:
- Gainesville

Action: Affirmed
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 READ MORE >

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- Gainesville

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