Fitch rates Southlake, Texas GOs, COs 'AAA'

July 17 – Fitch Ratings assigns an ‘AAA’ rating to the following Southlake, Texas (the city) certificates of obligation (COs):

–$10.27 million general obligation (GO) refunding bonds, series 2012;

–$11.465 million tax and waterworks and sewer system (limited pledge) revenue

COs, series 2012;

The bonds are expected to price via negotiated sale the week of Aug. 6, 2012, pending market conditions. Proceeds will be used to refund a portion of the city’s outstanding obligations and pay for various public improvements.

In addition, Fitch affirms the following ratings:

–$135.1 million in outstanding GOs and COs at ‘AAA’;

–$3.56 million in outstanding sales tax bonds at ‘AA-‘.

The Rating Outlook is Stable.

To read the rest of the release please visit the Reuters website