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'BBB' Rating Assigned To Jones County, TX's Series 2012 Tax And Revenue Certificates Of Obligation Jan 12
Standard & Poors, Jan 2012
Abstract
DALLAS (Standard & Poor's) Jan. 12, 2012-- Standard & Poor's Ratings Services assigned its 'BBB' long-term rating to Jones County, Texas' series 2012 combination tax and revenue certificates of obligation. The outlook is stable. 'The rating reflects our view of the county's lack of willingness to appropriate funds to make principal and debt payments on its appropriation debt, limited local economy,' said Standard & Poor's credit analyst Sarah Smaardyk. 'The rating also reflects the fact that the county's current tax levy does not include an interest and sinking tax rate to make debt service payments on its general obligation debt,' Ms. Smaardyk added. The bonds are secured by an ad valorem tax levied against all taxable property within the county...
Companies mentioned in this report are: Jones Cnty
Action: New Rating
Action: Outlook: Stable
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 credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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