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Summary: Hillsborough County, Florida; Special Assessments May 11

  • ID: 1806992
  • May 2011
  • Region: Florida
  • Standard & Poors
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Abstract
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

Action: Affirmed

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 READ MORE >

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- Hillsborough Cnty

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