0 CHECKOUT

Summary: La Quinta Financing Authority, California; Tax Increment May 11

  • ID: 1786916
  • May 2011
  • Region: California
  • Standard & Poors
1 of 3

Abstract
Standard & Poor's Ratings Services assigned its 'A' long-term rating to La Quinta Redevelopment Agency, Calif.'s (authority) series 2011 local agency subordinate taxable revenue bonds, issued for Project Area No. 1 (PA 1) and Project Area No. 2 (PA 2) housing projects. The outlook is stable. The rating reflects what we view as: A large and diverse combined project area encompassing 14,605 acres, 20 miles from Palm Springs, Calif., in Riverside County; Good pro forma senior and subordinate maximum annual debt service (MADS) coverage of 1.50x based on fiscal 2011 tax increment revenues, after including a reduction from assumed successful appeals; A good additional bonds test (ABT), which requires total housing revenues to cover senior and subordinate debt service by...

Companies mentioned in this report are: La Quinta Redev Agy
Action: New Rating
Action: Outlook: Stable

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 READ MORE >

Note: Product cover images may vary from those shown
2 of 3

La Quinta Redev Agy

Note: Product cover images may vary from those shown
3 of 3
Note: Product cover images may vary from those shown

PURCHASING OPTIONS

HAVE A QUESTION?

EMAIL US VIEW FAQs

RELATED PRODUCTS from Db

Our Clients

  • Fluidigm Corporation
  • Apple, Inc.
  • CEVA Santé Animale
  • Abbott Laboratories Ltd.
  • Merck Group
  • Allergan Inc.
  • Pfizer Inc.