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Cedar Park, TX GO Debt Rating Raised To 'AA' From 'AA-' On Tax Base Expansion And Strong Financial Reserves Oct 09 Product Image

Cedar Park, TX GO Debt Rating Raised To 'AA' From 'AA-' On Tax Base Expansion And Strong Financial Reserves Oct 09

  • Published: October 2009
  • Standard & Poors

FEATURED COMPANIES

Abstract
DALLAS (Standard & Poor's) Oct. 29, 2009--Standard & Poor's Ratings Services has assigned its 'AA' long-term rating, and stable outlook, to Cedar Park, Texas' series 2009 general obligation (GO) bonds and series 2009 general obligation refunding bonds. In addition, Standard & Poor's has raised the ratings on the city's GO bonds outstanding to 'AA' from 'AA-', reflecting the continued expansion and diversification of the local property tax base, coupled with maintenance of strong financial reserves. "The ratings reflect what we view as the city's access to the strong and diverse Austin metropolitan statistical area economy, and expanding and diversifying property tax base," said Standard & Poor's credit analyst James Breeding. Also supporting the ratings are what we consider as Cedar...

Companies mentioned in this report are:
- Cedar Park

Action: New Rating
Action: Upgraded

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 READ MORE >

- Cedar Park

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