Standard & Poor's Ratings Services assigned its 'A+' long-term rating and stable outlook to Kyle, Texas' series 2013 general obligation (GO) refunding bonds and affirmed its 'A+' long-term rating and underlying rating (SPUR), with a stable outlook, on the city's existing GO debt. The rating reflects our opinion of the city's: Access to Austin's deep and diverse economy, resulting in strong income; Tax revenue that has demonstrated resilience through the national economic downturn; and Very strong finances. We believe the rating is somewhat constrained by, what we consider, the city's: High overall debt with future debt-supported capital needs, and High debt service carrying charges. Officials intend to use bond proceeds to refund a portion of the city's debt for an...
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Action: New Rating
Action: Outlook: Stable
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