-S&P hikes Grand Prairie to AAA.
BANKING AND CREDIT NEWS-January 7, 2011--S&P hikes Grand Prairie to AAA(C)2011 M2 COMMUNICATIONS http://www.m2.com
7 January 2011 - S&P today promoted to AAA from AA+ its long-term rating on the city of Grand Prairie, Texas citing its solid financial position, which it believes would be sustained over the medium term, given its small capital needs.
The city's series 2011 water and wastewater system revenue refunding bonds also won the top rating of AAA with a "stable" outlook.
The city's excellent credit quality is further backed by the water system's exclusive distribution and collection role, easing financial and operating pressure on Grand Prairie along with the city's good location between Dallas and Fort Worth contributing to its function as a regional recruitment centre, S&P noted.
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|Publication:||M2 Banking & Credit News (BCN)|
|Date:||Jan 7, 2011|
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