KBRA Assigns AA+ Rating to City of El Paso, TX General Obligation Refunding Bonds, Series 2024; Affirms Related Ratings
KBRA assigns a long-term rating of AA+ to the City of El Paso, Texas General Obligation Refunding Bonds, Series 2024.
- KBRA assigns a long-term rating of AA+ to the City of El Paso, Texas General Obligation Refunding Bonds, Series 2024.
- KBRA additionally affirms the long-term rating of AA+ for the City's outstanding General Obligation Bonds and Combined Tax and Revenue Certificates of Obligation.
- The rating actions reflect the following key credit considerations:
Conservative budget practices have supported increasing financial flexibility since 2014. - Total unassigned and committed general fund balances at 26.4% of expenditures as of FYE 2023 provide a large operating cushion.