Houston Hotel Occupancy Tax Bond Rating Outlook Revised To Stable From Negative On Higher Revenues; 'A' Rating Affirmed - S&P Global Ratings’ Credit Research

Houston Hotel Occupancy Tax Bond Rating Outlook Revised To Stable From Negative On Higher Revenues; 'A' Rating Affirmed

Houston Hotel Occupancy Tax Bond Rating Outlook Revised To Stable From Negative On Higher Revenues; 'A' Rating Affirmed - S&P Global Ratings’ Credit Research
Houston Hotel Occupancy Tax Bond Rating Outlook Revised To Stable From Negative On Higher Revenues; 'A' Rating Affirmed
Published Sep 28, 2022
2 pages (1222 words) — Published Sep 28, 2022
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Abstract:

DALLAS (S&P Global Ratings) Sept. 28, 2022--S&P Global Ratings has revised its outlook to stable from negative and affirmed its 'A' rating on Houston, Texas' convention and entertainment facilities department hotel occupancy tax (HOT) and special revenue refunding bonds. "The outlook revision reflects a material return of revenue growth in 2022 and subsequent improvement in debt service coverage," said S&P Global Ratings credit analyst Andy Hobbs. The outlook revision directly reflects the turnaround and growth in pledged revenue collections in 2022 that far exceeds 2021 collections. The return to positive growth reflects a material change and more normalized economic activity and travel in the region. In addition, the broad and diverse Houston metropolitan statistical area, dynamic regional economy, and restoration

  
Brief Excerpt:

...September 28, 2022 DALLAS (S&P Global Ratings) Sept. 28, 2022--S&P Global Ratings has revised its outlook to stable from negative and affirmed its 'A' rating on Houston, Texas' convention and entertainment facilities department hotel occupancy tax (HOT) and special revenue refunding bonds. "The outlook revision reflects a material return of revenue growth in 2022 and subsequent improvement in debt service coverage," said S&P Global Ratings credit analyst Andy Hobbs. The outlook revision directly reflects the turnaround and growth in pledged revenue collections in 2022 that far exceeds 2021 collections. The return to positive growth reflects a material change and more normalized economic activity and travel in the region. In addition, the broad and diverse Houston metropolitan statistical area, dynamic regional economy, and restoration of more traditional event schedules, are all credit positives that have supported credit stability in recent months and are reflected in the outlook revision....

  
Report Type:

Ratings Action

Ticker
HOUFAC
Issuer
Houston
Sector
Global Issuers, Public Finance
Country
United States
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Houston Hotel Occupancy Tax Bond Rating Outlook Revised To Stable From Negative On Higher Revenues; 'A' Rating Affirmed" Sep 28, 2022. Alacra Store. Nov 07, 2026. <http://www.alacrastore.com/s-and-p-credit-research/Houston-Hotel-Occupancy-Tax-Bond-Rating-Outlook-Revised-To-Stable-From-Negative-On-Higher-Revenues-A-Rating-Affirmed-2896945>
  
APA:
S&P Global Ratings’ Credit Research. (). Houston Hotel Occupancy Tax Bond Rating Outlook Revised To Stable From Negative On Higher Revenues; 'A' Rating Affirmed Sep 28, 2022. New York, NY: Alacra Store. Retrieved Nov 07, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/Houston-Hotel-Occupancy-Tax-Bond-Rating-Outlook-Revised-To-Stable-From-Negative-On-Higher-Revenues-A-Rating-Affirmed-2896945>
  
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