- Language: English
- Published: December 2012
- Region: Florida
Summary: Orlando, FL; Revenue - Transportation, CP Oct 99
- ID: 1833100
- October 1999
- Standard & Poors
The rating on Orlando, Fla.'s notes reflect: The city's covenant to budget and appropriate available non-ad valorem revenues attributable to its general fund and its utility services tax fund; Strong debt service coverage supplied by covenant revenues; Exceptionally strong legal provisions, including a very conservative additional bonds test; The importance of the city's covenant debt in providing the core capital for its internal loan program-the primary means of financing general capital projects; and The strong general creditworthiness of the city ('AA' issuer credit rating). The rating on the commercial paper (CP) notes additionally is based on full liquidity support provided under a credit agreement with Morgan Guaranty Trust Co., N.Y. The city is authorized to issue up to $50 million...
Companies mentioned in this report are: Orlando
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.
SHOW LESS READ MORE >