S&P cuts Floresville, Texas, GO ratings to BBB
June 26 (Reuters) - Standard & Poor's Ratings Services on Wednesday cut the rating of Floresville, Texas, general obligation debt to BBB from A-minus. The outlook is stable.
The downgrade is due to the "deterioration of the city's financial position to a level that we no longer deem to be commensurate with an 'A-' rating," S&P said.
- Search planes scour sea for missing Malaysian jetliner |
- Timeline: Malaysia Airlines flight to Beijing missing in Asia
- Missing Malaysian jet may have disintegrated in mid-air: source |
- Exclusive: Malaysia plane probe narrows on mid-air disintegration - source
- Malaysian plane presumed crashed; questions over false IDs |