Regional Transportation Authority of Pima County, Arizona; Miscellaneous Tax May 11
Standard & Poors, May 2011
Abstract
Standard & Poor's Ratings Services assigned its 'AA' long-term rating to the Regional Transportation Authority (RTA) of Pima County, Ariz.'s transportation excise tax revenue bonds (Pima County Public Transportation Fund), series 2011. The outlook is stable. The rating reflects our view of the authority's: Deep and diverse local economic base, anchored by Tucson's role as a regional employment, education, and service center for southern Arizona, which generates the pledged sales tax; Strong 4.74x coverage by fiscal 2010 pledged revenues of future maximum annual debt service (MADS) after this issuance; and A 2.0x additional bonds test (ABT). Partially offsetting the above factors is our view of: The authority's additional parity bonding plans, estimated by management at up to $200 million in...
Companies mentioned in this report are: Regl Transp Auth of Pima Cnty
Action: New Rating
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Research Type: Full Analysis
Regl Transp Auth of Pima Cnty
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