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Summary: Pflugerville, Texas; General Obligation Nov 10
Standard & Poors, November 2010
Standard & Poor's Ratings Services assigned its 'AA-' rating to Pflugerville, Texas' series 2010 combination tax and revenue certificates of obligation, limited-tax bonds, and limited-tax refunding bonds. At the same time, we affirmed our 'AA-' rating and underlying rating (SPUR) on the city's existing general obligation (GO) debt. The ratings reflect our view of the city's: Limited local economic base, which is gradually expanding due to the city's proximity to the broad and diverse Austin, Texas ('AAA/Stable' GO SPUR) regional economy; Very strong income levels; and Very strong financial reserves. These factors are offset in part by our opinion of the city's: Moderate overall debt levels coupled with elevated carrying charges, and Near-term growth pressures. The city's full faith and...
Companies mentioned in this report are:
Action: New Rating
Action: Outlook: Stable
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