Standard & Poor's Ratings Services has affirmed its 'A+' rating with a stable outlook on Hillsborough County, Fla.'s series 2006 capital assessment and special assessment revenue bonds. The rating reflects our view of: A very large, mostly developed assessment district, with more than 34,000 parcels located throughout Hillsborough County (AAA/Stable general obligation rating); The assessment district's primarily single-family residential nature; Lack of special assessment payer concentration; Strong cash flows that are able to withstand the loss of 9% of special assessments, using the debt service reserve and additional available liquidity to augment special assessment revenues; and Maintenance of collection rates sufficient to pay debt service, despite very weak economic conditions; special assessment revenues provided 1.1x coverage of maximum annual debt...
Companies mentioned in this report are:
- Hillsborough Cnty
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