Summary: Carrollton, Texas; General Obligation Aug 08
- ID: 2127361
- August 2008
- Region: Texas
- Standard & Poors
Standard & Poor's Ratings Services raised its long-term rating and underlying rating (SPUR) on Carrollton, Texas' general obligation debt to 'AA+' from 'AA', reflecting management's maintenance of strong reserves in line with the city's policy. The 'AA+' rating reflects the city's: Deep, diversified economic and employment base, and participation in the solid Dallas-Forth Worth economy; Conservative and sophisticated financial management policies that include long-range budget and capital plans; and Strong general fund reserves, which are augmented by additional reserves in various funds, providing significant revenue raising flexibility. Offsetting factor includes the city's: High overlapping net debt burden; and High carrying charges. An ad valorem property tax pledge secures the bonds. The city of Carrollton, with a population of about 120,150,...
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Action: Outlook: Stable
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