Florida's State Board of Education 2011A Refunding Bonds Assigned 'AAA' Rating; Other Ratings Affirmed Nov 11
- Language: English
- Published: November 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
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.