• SELECT SITE CURRENCY
Select a currency for use throughout the site
Summary: Alameda Community Improvement Commission, California Alameda Public Financing Authority; Tax Increment
Standard & Poors, April 2011
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
Standard & Poor's Ratings Services assigned its 'A-' long-term rating, and stable outlook, to Alameda Community Improvement Commission, Calif.'s series 2011A (taxable) and 2011B tax allocation housing bonds, issued for Alameda Public Financing Authority. Standard & Poor's also affirmed its 'AA-' underlying rating (SPUR), with a stable outlook, on the commission's series 2003C-2003D senior-lien tax allocation refunding bonds. The ratings reflect our view of: A taxing area centrally located within the San Francisco Bay Area economy, The commission's moderate taxpayer concentration with the 10 leading taxpayers accounting for 31% of incremental assessed value (AV), and A strong maximum annual debt service (MADS) coverage of 1.7x based on fiscal 2011 AV. A subordinate-lien pledge on housing set-aside tax-increment revenues from the...
Companies mentioned in this report are: Alameda Pub Fincg Auth,Alameda Comnty Imp Comm
Action: New Rating
Action: Outlook: Stable
Alameda Pub Fincg Auth,Alameda Comnty Imp Comm