News

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.

Issuer: State of Texas

Assigned

 

Rating

 

Outlook

Tax and Revenue Anticipation Notes, Series 2019

(maturing August 27, 2020)

 

K1+

 

 

Affirmed

 

Rating

 

Outlook

General Obligation Bonds

 

AAA

 

Stable

Tax and Revenue Anticipation Notes, Series 2018

(maturing August 29, 2019)

 

K1+

 

 

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

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