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Summary: Kerrville Economic Improvement Corp, Texas, Kerrville; Sales Tax Feb 12 Product Image

Summary: Kerrville Economic Improvement Corp, Texas, Kerrville; Sales Tax Feb 12

  • Published: February 2012
  • Region: Texas
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services affirmed its 'A+' underlying rating (SPUR) on Kerrville Economic Improvement Corp. (EIC), Texas' existing sales tax revenue bonds, issued for the City of Kerrville, Texas The ratings reflect what we view as the city's: Strong 4.8x maximum annual debt service (MADS) coverage; No plans at this time to issue additional debt; and Adequate legal provisions, including an additional bonds test of 1.25x annual average debt service. These strengths are partly offset by what we consider Kerrville's: Adequate income levels; and Limited, but expanding, local employment base that is somewhat reliant on the more cyclical tourism industry. The city's local half-cent sales tax secures the bonds. Legal provisions include a historical additional bonds test of 1.25x...

Companies mentioned in this report are: Kerrville,Kerrville Econ Imp Corp
Action: Affirmed
Action: Outlook: Stable

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Kerrville,Kerrville Econ Imp Corp

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