Summary: Gainesville, Texas; General Obligation Dec 11
- ID: 2033539
- December 2011
- Region: Texas
- Standard & Poors
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...
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Action: New Rating
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