Summary: Allen Park City, Michigan; General Obligation; General Obligation Equivalent Security Mar 12
- Language: English
- Published: March 2012
- Region: Michigan
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...
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Action: New Rating
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