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Summary: Allen, Texas; General Obligation Feb 12

  • ID: 2053010
  • February 2012
  • Region: Texas
  • Standard & Poors
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Standard and Poor's Rating Services assigned its 'AAA' long-term rating to Allen, Texas' general obligation (GO) refunding bonds series 2012. At the same time, Standard & Poor's affirmed its 'AAA' long-term rating and underlying rating (SPUR) on the city's series 2011 GO refunding and improvement bonds. The outlook is stable. Credit factors supporting the 'AAA' rating include our opinion of the city's: Rapidly growing and diversifying economic and property tax base to include a mix of residential, commercial, and industrial components; High wealth and income levels; Access to the large and diverse north-central Texas employment base; History of very strong reserve levels and thorough planning processes; and Moderately high overall net debt levels. An ad valorem property tax pledge secures...

Companies mentioned in this report are:
- Allen

Action: Affirmed
Action: New Rating

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 READ MORE >

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