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Summary: Gainesville, Texas; General Obligation Dec 11

  • ID: 2033539
  • December 2011
  • Region: Texas
  • Standard & Poors
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Abstract
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

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- Gainesville

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