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Summary: Kyle, Texas; General Obligation Feb 13 Product Image

Summary: Kyle, Texas; General Obligation Feb 13

  • ID: 2403635
  • February 2013
  • Region: Texas
  • Standard & Poors

Abstract
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...

Companies mentioned in this report are:
- Kyle

Action: Affirmed
Action: New Rating
Action: Outlook: Stable

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit READ MORE >

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