DALLAS -- Standard & Poor's raised the rating on $10.9 million of utility bonds issued for the city of Sherman, Texas, to AA-minus from A-plus.

"The upgrade reflects Sherman's strong financial profile even after the loss of two major customers,"  tandard & Poor's credit analyst Alexander Vargas said Dec. 2.  “The city responded with rate increases that allowed fixed-charge coverage levels and liquidity to remain strong.’

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.