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Weslaco, TX Outlook Revised To Stable From Negative On Improved Finances Jan 12 Product Image

Weslaco, TX Outlook Revised To Stable From Negative On Improved Finances Jan 12

  • Published: January 2012
  • Standard & Poors

FEATURED COMPANIES

Abstract
NEW YORK (Standard & Poor's) Jan. 4, 2012--Standard & Poor's Ratings Services said today it revised to stable from negative its outlook and affirmed the 'BBB+' rating on Weslaco, Texas' general obligation (GO) debt. In addition, Standard & Poor's assigned its 'BBB+' rating and stable outlook to the city's series 2012 tax and waterworks and sewer system surplus revenue certificates of obligation. "The outlook revision is based on the city's improved financial performance and return to structurally balanced operations," said Standard & Poor's credit analyst Jim Tchou. The 'BBB+' rating reflects our opinion of the city's: Adequate financial position based on unaudited fiscal 2011 results; Moderate overall debt level based on market value, with additional debt-financed capital needs; Status as...

Companies mentioned in this report are: Weslaco
Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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