NEW YORK (Standard&Poor's) Dec. 3, 2013--Standard&Poor's Ratings Services raised its rating on Hutchins, Texas' general obligation (GO) bonds one notch to 'AA-' from 'A+' based on the application of Standard&Poor's recently released local GO criteria, published Sept. 12, 2013, on RatingsDirect. "We believe Hutchins will likely maintain its very strong reserves, negating the weak local economy's and adequate debt profile's effect on finances," said Standard&Poor's credit analyst Jim Tchou. "We could lower the rating if reserves were to decrease significantly, reducing budgetary flexibility. We, however, do not expect to raise the rating over the outlook's two-year period." A continuing direct annual ad valorem tax levied by the city secures the bonds. RELATED
