• +353-1-416-8900(GMT OFFICE HOURS)
  • 1-800-526-8630(US/CAN TOLL FREE)
  • 1-917-300-0470(EST OFFICE HOURS)
Summary: Grand Terrace Community Redevelopment Agency, California; Tax Increment Jun 11 Product Image

Summary: Grand Terrace Community Redevelopment Agency, California; Tax Increment Jun 11

  • ID: 1815145
  • June 2011
  • Region: California
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services assigned its 'A' rating to Grand Terrace Community Redevelopment Agency, Calif.'s series 2011A and 2011B tax allocation bonds. At the same time, we affirmed our 'A' underlying rating (SPUR) on the agency's refunding tax allocation bonds, series 2004. The outlook is stable. The ratings reflect our view of the agency's: Participation in the growing Riverside- San Bernardino MSA; Maximum annual debt service (MADS) coverage of 1.47x on the series 2011A and 2011B bonds; Closed senior lien; Large project area by land area and primarily residential nature, which results in a diverse tax base; and Low volatility ratio of 0.18, which indicates pledged revenues are not very sensitive to overall assessed value (AV) changes. Partly offsetting...

Companies mentioned in this report are: Grand Terrace Comnty Redev Agy
Action: Affirmed
Action: New Rating
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 READ MORE >

Note: Product cover images may vary from those shown

RELATED PRODUCTS