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Outlook On Garden Spot Village, PA's 'BBB' Rated Bonds Revised To Negative On Potential Increased Debt Burden

  • ID: 1783001
  • May 2011
  • Standard & Poors
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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.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

NEW YORK (Standard & Poor's) May 6, 2011--Standard & Poor's Ratings Services has revised its outlook to negative from stable and affirmed its 'BBB' underlying rating (SPUR) on Lancaster Industrial Development Authority, Pa.'s series 2006A and 2006B revenue bonds, issued for Garden Spot Village (GSV). The outlook revision reflects Standard & Poor's expectation that GSV will issue approximately $4 million of debt in fiscal 2011 with the potential for additional debt over the next two years, which could cause stress on an already weak balance sheet. The SPUR reflects Standard & Poor's assessment of GSV's strong occupancy and demand levels, as well as improved, though still only adequate, liquidity levels, which have decreased since 2009 because GSV paid down some...

Companies mentioned in this report are: Garden Spot Vill,Lancaster Indl Dev Auth
Action: Affirmed
Action: Outlook: Negative

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Garden Spot Vill,Lancaster Indl Dev Auth

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