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Regional Transportation Authority of Pima County, Arizona; Miscellaneous Tax May 11
Standard & Poors, May 2011
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
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: Full Analysis
Regl Transp Auth of Pima Cnty