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Summary: Brady, Texas; General Obligation Mar 12
Standard & Poors, March 2012
Standard & Poor's Ratings Services assigned its 'A+' rating and stable outlook to Brady, Texas' series 2012 general obligation (GO) refunding bonds. The rating reflects our assessment of the city's: Stable, but limited, local economy; Strong finances, backed by regular transfers from the utility funds to support operations; and Moderate overall debt with, what we consider, low direct debt and low carrying charges. We believe these strengths are somewhat weakened by the city's: Moderately concentrated property tax base, and Low income. The city's ad valorem tax pledge secures the bonds. Officials plan to use bond proceeds to refinance certain maturities of the city's existing debt for debt service savings. Brady, with a population estimate of 5,528, covers 11.65 square miles;...
Companies mentioned in this report are: Brady
Action: New Rating
Action: Outlook: Stable
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