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Summary: Rusk, Texas; General Obligation Jan 13
Standard & Poors, January 2013
Standard & Poor's Ratings Services assigned its 'A' rating and stable outlook to Rusk, Texas series 2013 general obligation (GO) refunding bonds and series 2013 tax and waterworks and sewer system surplus revenue certificates of obligation. The rating reflects our opinion of the city's: Stable, but limited, local economy, anchored by government employment; Strong general fund position compared to expenditures, albeit nominally small; and Low market value debt with no additional bonding plans. We believe these strengths are somewhat weakened by the city's: Adequate medium household effective buying income and low per capita effective buying income; and Limited revenue-raising flexibility, resulting in a reliance on utility system revenue to support operations. An ad valorem tax pledge secures the bonds. An...
Companies mentioned in this report are:
Action: New Rating
Action: Outlook: Stable
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