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S&P Corrects Rating To 'BB+' On Gonzales Redevelopment Agency, CA's Series 2011 Tax Allocation Refunding Bonds Jun 11
Standard & Poors, June 2011
SAN FRANCISCO (Standard & Poor's) June 17, 2011-- Standard & Poor's Ratings Services corrected its long-term rating to 'BB+' from 'BBB-' on Gonzales Redevelopment Agency, Calif.'s series 2011 tax allocation refunding bonds. The outlook is stable. The corrected rating reflects our view of revisions to data and information previously provided to us by the agency at the time we issued the rating. According to the revised data provided by the agency, the leading taxpayer -- Pacific Wine Partners LLC -- represents about 50% of the project area's incremental assessed valuation (AV) instead of 30% as previously indicated at the time we issued the rating. We believe the concentration of half of the project area's incremental revenues in a single taxpayer...
Companies mentioned in this report are: Gonzales Redev Agy
Action: Outlook: Stable
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Gonzales Redev Agy