Fitch Upgrades Mercedes, Texas COs and GOs to 'A-'.

Publication: Business Wire

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COPYRIGHT 2006 Business Wire

AUSTIN, Texas -- Fitch Ratings assigns its 'A-' rating to the $3 million combination tax and limited pledge revenue certificates of obligation (COs), series 2006A of Mercedes, Texas. In addition, Fitch upgrades the city's $11.1 million in outstanding COs and $2.7 million in outstanding general obligation bonds to 'A-' from 'BBB+'. The Rating Outlook is Stable.

The COs are scheduled to sell on Dec. 5 via negotiation to a syndicate led by Southwest Securities. The COs constitute a direct and general obligation of the city, payable from an ad valorem tax levied against all taxable property within...

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