• SELECT SITE CURRENCY
Select a currency for use throughout the site
Summary: Cudahy Community Development Commission, California; Tax Increment Jun 11
Standard & Poors, June 2011
Standard & Poor's Ratings Services assigned its 'A-' rating to Cudahy Community Development Commission, Calif.'s series 2011B bonds. At the same time, we affirmed our 'A-' rating on commission's series 2003C bonds. We also affirmed our 'A+' rating on the commission's series 2003B senior bonds. The outlook is stable. The ratings reflect our view of: A tax base that includes practically all of Cudahy, supported by the city's access to the broad and diverse Los Angeles economy; Maximum annual debt service (MADS) coverage of 1.35x on the subordinate-lien bonds and 2.4x on the senior-lien bonds; and A relatively diverse project area, with the 10 largest taxpayers making up only 18% of incremental assessed value (AV) in fiscal 2011. Partially offsetting...
Companies mentioned in this report are: Cudahy Comnty Dev Comm
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 the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
Cudahy Comnty Dev Comm