Austin, TX Hotel Occupancy Tax Revenue Bond Rating Outlook Revised To Stable From Negative On Uptick In Collections - S&P Global Ratings’ Credit Research

Austin, TX Hotel Occupancy Tax Revenue Bond Rating Outlook Revised To Stable From Negative On Uptick In Collections

Austin, TX Hotel Occupancy Tax Revenue Bond Rating Outlook Revised To Stable From Negative On Uptick In Collections - S&P Global Ratings’ Credit Research
Austin, TX Hotel Occupancy Tax Revenue Bond Rating Outlook Revised To Stable From Negative On Uptick In Collections
Published Aug 26, 2022
3 pages (1434 words) — Published Aug 26, 2022
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

DALLAS (S&P Global Ratings) Aug. 26, 2022--S&P Global Ratings has revised its outlook to stable from negative and affirmed its 'AA' rating on the City of Austin, Texas' combined $70 million in series 2012, 2008A, and 2008B hotel occupancy tax subordinate-lien revenue bonds. The outlook revision to stable reflects a material and rapid return of pledged revenue growth in 2022 that far exceeds collections in 2021. Despite a sharp drop in hotel taxes in fiscal years 2020 and 2021 when compared with previous years, a marked reversal in revenue trends in fiscal 2022 supports the stable outlook. "Given current economic conditions and activity locally, as well as the addition of new hotels to the taxing base, we anticipate steady growth

  
Report Type:

Ratings Action

Issuer
Austin
Sector
Global Issuers, Public Finance
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
Buy Now

More from S&P Global Ratings’ Credit Research

S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

About the Author


Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Austin, TX Hotel Occupancy Tax Revenue Bond Rating Outlook Revised To Stable From Negative On Uptick In Collections" Aug 26, 2022. Alacra Store. Nov 07, 2026. <http://www.alacrastore.com/s-and-p-credit-research/Austin-TX-Hotel-Occupancy-Tax-Revenue-Bond-Rating-Outlook-Revised-To-Stable-From-Negative-On-Uptick-In-Collections-2885265>
  
APA:
S&P Global Ratings’ Credit Research. (). Austin, TX Hotel Occupancy Tax Revenue Bond Rating Outlook Revised To Stable From Negative On Uptick In Collections Aug 26, 2022. New York, NY: Alacra Store. Retrieved Nov 07, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/Austin-TX-Hotel-Occupancy-Tax-Revenue-Bond-Rating-Outlook-Revised-To-Stable-From-Negative-On-Uptick-In-Collections-2885265>
  
US$ 150.00
$  £  €
Have a Question?

Any questions about the report you're considering? Our Customer Service Team can help! Or visit our FAQs.

More Research

Search all our Credit Research from one place.