Florida Department of Transportation 2011A Refunding Bonds Rated 'AAA'; Parity Debt Rating Affirmed At 'AAA' Apr 11
- Language: English
- Published: April 2011
- Region: Florida
NEW YORK (Standard & Poor's) Dec. 22, 2010--Standard & Poor's Ratings Services assigned its 'AA+' rating with a stable outlook to Florida Port Financing Commission's (State Transportation Trust Fund; STTF-Intermodal Program) series 2011A and B refunding revenue bonds. "The 'AA+' rating reflects our view of the pledge of motor vehicle license tax revenues levied statewide to cover a $10 million transfer annually from the Florida Department of Transportation (DOT) STTF to support debt service pursuant to Florida Statutes 320.20(4)," said Standard & Poor's credit analyst John Sugden-Castillo. The distribution is subordinate to the constitutional funding commitment for the Florida Board of Education (capital outlay and debt service fund), which has ranged from $104 million to $120 million over the past...
Companies mentioned in this report are: Florida Port Fing Comm
Action: New Rating
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Florida Port Fing Comm