Summary: Temple, Texas; General Obligation

S&P Global Ratings assigned its 'AA' rating and stable outlook to the City of Temple, Texas' series 2019 general obligation (GO) refunding bonds. S&P Global Ratings also affirmed its 'AA' rating, with a stable outlook, on the city's parity GO bonds. We believe Temple's very strong financial position and stable performance are supported by the city's strong financial management practices and policies as well a diverse tax base, which benefits from nearby Fort Hood as a stabilizing institution. Furthermore, we expect Temple's financial position to remain stable if not improve due to additional development under way that is projected to spur stronger taxable value growth. Although the city's debt profile is very weak, we expect it will remain manageable given

...S&P Global Ratings assigned its '##' rating and stable outlook to the City of Temple, Texas' series 2019 general obligation (GO) refunding bonds. S&P Global Ratings also affirmed its '##' rating, with a stable outlook, on the city's parity GO bonds. We believe Temple's very strong financial position and stable performance are supported by the city's strong financial management practices and policies as well a diverse tax base, which benefits from nearby Fort Hood as a stabilizing institution. Furthermore, we expect Temple's financial position to remain stable if not improve due to additional development under way that is projected to spur stronger taxable value growth. Although the city's debt profile is very weak, we expect it will remain manageable given projected taxable value growth and favorable debt amortization structure despite additional debt needs. Ad valorem taxes levied on all taxable property within the city secure the bonds. The ad valorem taxes are not levied on a narrower...

Summary