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'A' Rating Assigned To Big Bear Lake Improvement Agency, CA's Tax Allocation Bonds Jun 11
Standard & Poors, June 2011
Abstract
SAN FRANCISCO (Standard & Poor's) June 17, 2011-- Standard & Poor's Ratings Services assigned its 'A' long-term rating to the Big Bear Lake Improvement Agency, Calif.'s series 2011A (Moonridge Improvement Project) tax allocation bonds (TABs). The outlook is stable. 'The rating reflects our view of the agency's low volatility ratio, adequate additional bonds test, and moderate taxpayer concentration. Further strengthening the rating is that there are no outstanding assessed value appeals,' said Standard & Poor's credit analyst Kathleen Parmer. The bonds are secured by tax increment revenues from the Moonridge Improvement Project, net of housing set-aside revenues and certain pass-through payments. We understand that the proceeds of the bonds will be used to finance redevelopment projects throughout the improvement area....
Companies mentioned in this report are: Big Bear Lake Imp Agy
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.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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