KBRA Assigns K1+ to State of Texas Tax and Revenue Anticipation Notes, Series 2019
NEW YORK–(BUSINESS WIRE)–Kroll Bond Rating Agency (KBRA) assigns a short-term rating of K1+ to the State of Texas Tax and Revenue Anticipation Notes, Series 2019. KBRA also affirms the long-term rating of AAA and Stable Outlook on the State’s outstanding general obligation debt as well as the short-term rating of K1+ on the State’s Tax and Revenue Anticipation Notes, Series 2018.
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Issuer: State of Texas |
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Assigned |
Rating |
Outlook |
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Tax and Revenue Anticipation Notes, Series 2019 |
K1+ |
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Affirmed |
Rating |
Outlook |
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General Obligation Bonds |
AAA |
Stable |
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Tax and Revenue Anticipation Notes, Series 2018 |
K1+ |
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The ratings on the State’s outstanding and soon to be marketed cash flow notes are based on KBRA’s U.S. State and Local Government Short-Term Cash Flow Note Rating Methodology. The general obligation rating is based on KBRA’s U.S. State General Obligation Rating Methodology.
Detailed report to follow.
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About KBRA and KBRA Europe
KBRA is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider and is a certified Credit Rating Agency (CRA) by the European Securities and Markets Authority (ESMA). Kroll Bond Rating Agency Europe Limited is registered with ESMA as a CRA.
Contacts
Analytical:
Paul Kwiatkoski, Managing Director
(646) 731-2387
pkwiatkoski@kbra.com
Patricia McGuigan, Senior Director
(646) 731-3350
pmcguigan@kbra.com
Peter Scherer, Associate
(646) 731-2325
pscherer@kbra.com