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Houston Bonds AA Rating Reflects Tax Base Growth

HOUSTON-The city's prosperity is at the crux of a AA bond rating, which will bolster a bond sale that begins today. The public improvement bonds total about $1.5 billion.

By Jack Burney | Updated on November 28, 2000

Two sets of public improvement bonds totaling almost $1.5 billion have been given Fitch’s AA rating.

The rating reflects Houston’s increasing tax base values, diversified and growing economy, moderate direct debt burden and narrowing general fund fiscal margins. The series 2000 bonds, totaling slightly more than $2 million, go on sale today through syndication by Bear Stearns. The AA rating on Houston’s $1,248,775,000 public improvement bonds and $42,088,000 certificates of obligation also has been confirmed.The city’s taxable assessed valuations for fiscal 2001 demonstrates a fourth consecutive year of solid growth. Issued building permits have reached new thresholds, according to Fitch’s.

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