...S&P Global Ratings assigned its '##-' long-term rating to Hutchins, Texas' series 2019 general obligation (GO) refunding bonds and series 2019 combination tax and revenue certificates of obligation. At the same time, we affirmed our long-term and underlying (SPUR) ratings on the city's previously issued certificates of obligation. The outlook is stable. Hutchins is a relatively small community located south of Dallas that serves as a distribution and commercial hub. The city's financial position is strong, reflected in near breakeven operating results and the maintenance of very strong reserves and liquidity. We expect that the city's growing tax base and lack of significant fixed costs will support near-term financial stability. Hutchins' GO bonds and certificates of obligation constitute direct obligations of the city, payable from the proceeds of a continuing, direct annual ad valorem tax, within the limits prescribed by law, on all taxable property within its borders. The city's maximum...
