- Published: May 2012
- Region: United States
Summary: Cerritos Public Finance Authority, California Cerritos Redevelopment Agency; Tax Increment May 11
- Published: May 2011
- Region: California
- Standard & Poors
Standard & Poor's Ratings Services affirmed its 'BBB' rating on Cerritos Public Finance Authority, Calif.'s 2002B subordinate-lien tax allocation revenue bonds, issued on behalf of the Cerritos Redevelopment Agency. Limiting credit factors include our assessment of: Taxpayer concentration, as the 10 leading taxpayers in the project areas combined account for 51% of incremental AV; and The potential for pressure on debt service coverage due to an open senior lien and ability to subordinate lien debt consistent with a 1.10x additional bonds test (ABT) attributable to subordinate debt alone. Credit strengths include our assessment of: Pledged tax increment revenues generated from stable, primarily built-out project areas centrally located within the Los Angeles region; Low base-to-total assessed value (AV) volatility ratio, indicating...
Companies mentioned in this report are: Cerritos Redev Agy,Cerritos Pub Fin Auth
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Cerritos Redev Agy,Cerritos Pub Fin Auth