Summary: Jacksonville, Florida; Miscellaneous Tax Sep 10
Standard & Poors, September 2010
Abstract
Standard & Poor's Ratings Services has assigned its 'AA-' rating to the City of Jacksonville, Fla.'s series 2010A-1 and A-2 special revenue bonds. The city pledges to budget and appropriate non-ad valorem revenues to pay the bonds' debt service. We understand that it plans to sell the 2010A-2 bonds as direct payment Build America Bonds. Standard & Poor's also affirmed its 'AA-' rating on the city's debt outstanding. The outlook is stable. The rating reflects our opinion of the following credit strengths: Strong proactive management with a focus on long-term planning; An economy that has historically performed well and, unlike most Florida municipalities and counties, does not depend on tourism as a major revenue generator; and A debt profile that...
Companies mentioned in this report are:
- Jacksonville
Action: Affirmed
Action: New Rating
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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
- Jacksonville
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