[MLT] Various Ratings On Oxnard Financing Authority, CA's Bonds Lowered Due To Inadequate Coverage Dec 11
- Language: English
- Published: December 2011
Standard & Poor's Ratings Services assigned its 'SP-1+' short-term rating to Oxnard Financing Authority, Calif.'s series 2010 bond anticipation notes (BANs), issued on behalf of Oxnard, Calif. In addition, we affirmed our 'AAA/A-1' rating and 'A' underlying rating (SPUR) on the authority's series 2003B and 2006 variable-rate demand lease revenue bonds, also issued on behalf of the City of Oxnard; our 'A+' issuer credit rating (ICR) on the city; and our 'A' long-term rating and SPUR on the authority's series 2003A lease revenue bonds, also issued on behalf of the city. The outlook on the ICR and series 2003A obligation rating is stable, and the outlook on the 2003B and 2006 bonds is not meaningful. The 'SP-1+' BAN rating reflects...
Companies mentioned in this report are: Oxnard,Oxnard Fincg Auth
Action: New Rating
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.
Research Type: Full Analysis
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Oxnard,Oxnard Fincg Auth