S&P Corrects Rating To 'BB+' On Gonzales Redevelopment Agency, CA's Series 2011 Tax Allocation Refunding Bonds Jun 11
Standard & Poors, June 2011
Abstract
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: Downgraded
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.
Gonzales Redev Agy
Customers who bought this item also bought
All rights reserved. © Copyright 2013 Research and Markets WWW4
Terms and Conditions Privacy Policy Publishers Employment Opportunities Site Map Link to us Webmaster Affiliate Network
