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Allen, Texas; General Obligation Feb 12
Standard & Poors, Feb 2012
Abstract
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: 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 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: Full Analysis
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