San Antonio, TX Bonds Assigned 'AAA' Rating On Very Strong Management, Budgetary Flexibility

DALLAS (S&P Global Ratings) July 27, 2016--S&P Global Ratings assigned its 'AAA' long-term rating to San Antonio, Texas' series 2016 general improvement and refunding bonds, series 2016 combination tax and revenue certificates of obligation, taxable series 2016 combination tax and revenue certificates of obligation, and series 2016 tax notes. At the same time, S&P Global Ratings affirmed its 'AAA' long-term rating and underlying rating (SPUR) on the city's general obligation (GO) debt outstanding and 'AA+' long-term rating and SPUR on San Antonio Municipal Facilities Corp. debt, issued for the city. The outlook is stable. "The rating reflects our opinion of the city's strong economy and very strong management," said S&P Global Ratings credit analyst Sarah Smaardyk. "The rating further reflects

...DALLAS (S&P Global Ratings) July 27, 2016--S&P Global Ratings assigned its '###' long-term rating to San Antonio, Texas' series 2016 general improvement and refunding bonds, series 2016 combination tax and revenue certificates of obligation, taxable series 2016 combination tax and revenue certificates of obligation, and series 2016 tax notes. At the same time, S&P Global Ratings affirmed its '###' long-term rating and underlying rating (SPUR) on the city's general obligation (GO) debt outstanding and '##+' long-term rating and SPUR on San Antonio Municipal Facilities Corp. debt, issued for the city. The outlook is stable. "The rating reflects our opinion of the city's strong economy and very strong management," said S&P Global Ratings credit analyst Sarah Smaardyk. "The rating further reflects our view of the city's very stong budgetary flexibility and liquidity as well as its strong budgetary performance," Ms. Smaardyk added. Proceeds from the four issuances will be used primarily to fund...

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