Moody’s Assigns Aaa To Irving, Tex., GO Debt

Moody’s Investors Service last week assigned a Aaa to the upcoming sale of $130 million of Irving, Tex., combination tax and hotel occupancy tax revenue certificates of obligation, Series 2009.

The Aaa rating and stable outlook is based on the city’s large tax base and also considers the city’s conservative debt profile while factoring in current and near term plans to notably increase the level of debt issuance.

Another area that Moody’s believes is noteworthy is Irving’s low level of socio-demographic wealth and property wealth per resident, which is atypical of most municipalities at this rating level. 

 

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