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Summary: Bristow Municipal Authority, Oklahoma; Sales Tax May 11 Product Image

Summary: Bristow Municipal Authority, Oklahoma; Sales Tax May 11

  • Published: May 2011
  • Region: Oklahoma
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services affirmed its 'BBB+' long-term rating to Bristow Municipal Authority, Okla.'s outstanding sales tax revenue bonds. The outlook is stable. The rating reflects our view of the authority's: Low income levels and strong per capita retail sales; Recent declines in sales tax collections; Strong debt service coverage; and Weak legal provisions that include a 1.5x average annual debt service additional bonds test. Net revenues of the authority's water, sewer, and garbage systems and a pledge of a 3.5-cent sales tax, subject to annual appropriation, secure the bonds. The rating reflects our view of the strength of the pledged sales tax. Officials indicate that the authority does not have any plans to issue additional debt in the...

Companies mentioned in this report are: Bristow Mun Auth
Action: Affirmed
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 and identify key READ MORE >

Bristow Mun Auth

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