Standard & Poor's Ratings Services assigned its 'AA+' rating to Bexar County, Texas' series 2013 combination tax and revenue certificates of obligation. At the same time, Standard & Poor's affirmed its 'AA+' long-term rating and underlying rating (SPUR) on the county's general obligation (GO) debt outstanding. The outlook is stable. The ratings reflect our view of the county's: Diverse economy, which has a strong military and tourism presence but is also expanding into other sectors; Very diverse property tax base, which has until recently experienced significant growth; Very strong level of reserves; and Moderately high overall debt burden due mostly to the significant issuances of underlying entities. The county's limited ad valorem tax pledge secures the certificates of obligation. Further...
Companies mentioned in this report are:
- Bexar Cnty
Action: New Rating
Action: Outlook: Stable
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