Summary: Donna, Texas; General Obligation

Standard&Poor's Ratings Services assigned its 'A' long-term rating to the Donna, Texas' series 2015 certificates of obligation. At the same time, Standard&Poor's affirmed its 'A' rating on the city's general obligation (GO) debt outstanding. The outlook on all ratings is stable. The series 2015 certificates constitute direct obligations of the city and are payable from a combination of ad valorem tax levied annually, within the limits prescribed by law, and from a pledge of the surplus revenues of Donna's waterworks and sewer system; however, we rate the bonds based on the city's GO. We understand that proceeds from the sale of the certificates will be used to fund various capital improvements and equipment throughout the city.

...Standard & Poor's Ratings Services assigned its 'A' long-term rating to the Donna, Texas' series 2015 certificates of obligation. At the same time, Standard & Poor's affirmed its 'A' rating on the city's general obligation (GO) debt outstanding. The outlook on all ratings is stable. The series 2015 certificates constitute direct obligations of the city and are payable from a combination of ad valorem tax levied annually, within the limits prescribed by law, and from a pledge of the surplus revenues of Donna's waterworks and sewer system; however, we rate the bonds based on the city's GO. We understand that proceeds from the sale of the certificates will be used to fund various capital improvements and equipment throughout the city. The rating reflects our view of the following factors for Donna:...

Summary