Summary: Richardson, Texas; General Obligation Mar 12

Standard & Poors, March 2012

Abstract
Standard & Poor's Ratings Services assigned its 'AAA' long-term rating to Richardson, Texas' series 2012 general obligation refunding bonds, and the series 2012A and series 2012 B combination tax and revenue certificates of obligation. At the same time, Standard & Poor's affirmed its 'AAA' long-term and underlying rating (SPUR) on the city's existing general obligation (GO) debt. The outlook on all ratings is stable. The ratings reflect our view of the city's: Location and participation in the Dallas-Fort Worth Metroplex economy, coupled with a sizable economic base of its own, which serves as a primary employment center with the significant presence of technology-based companies; Very strong income and wealth levels; Strong, tenured, and responsive management; Historically very strong financial performance,...

Companies mentioned in this report are:
- Richardson

Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

- Richardson

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