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Summary: Cedar Pk, TX; Tax Secured, General Obligation Apr 03 Product Image

Summary: Cedar Pk, TX; Tax Secured, General Obligation Apr 03

  • Published: April 2003
  • Standard & Poors

FEATURED COMPANIES

Abstract
Standard & Poor's Ratings Services revised its outlook on Cedar Park, Texas' outstanding GO bonds to stable from positive reflecting the city's elevating debt burden coupled with moderating economic growth, with the tax base expanding at a much slower rate than anticipated due to lagging regional economic conditions. The 'A' rating on Cedar Park's $7.125 million GO refunding bonds series 2003 is based on the city's full faith and credit pledge and reflects: Proximity to the strong and diverse Austin area economy; An expanding and diversifying tax base; Consistently strong financial performance, while addressing growth-related capital needs; and Above-average wealth and income levels. A very high overall debt burden with continuing capital needs due to population growth partially offsets these...

Companies mentioned in this report are:
- Cedar Park

Action: New Rating

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- Cedar Park

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