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Summary: Cedar Park, Texas; General Obligation Oct 09
Standard & Poors, October 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 GO refunding bonds. In addition, Standard & Poor's has raised its 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, Expanding and diversifying property tax base, Consistently strong financial performance while addressing growth-related capital needs, and Very strong wealth and income levels. A high overall debt burden, with a significant portion of...
Companies mentioned in this report are:
- Cedar Park
Action: New Rating
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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
- Cedar Park