Orlando Community Redevelopment Agency, FL Outlook Revised To Negative On Potential Further Coverage Decline Dec 12
- Language: English
- Published: December 2012
Standard & Poor's Ratings Services has assigned its 'A' long-term rating to Orlando Community Redevelopment Agency, Fla.'s series 2010A tax-exempt tax increment bonds and series 2010B tax increment revenue bonds (Build America bonds), issued on behalf of the city of Orlando. The 'A' long-term rating on the agency's parity series 2009 tax increment revenue bonds has been affirmed. The ratings reflect our opinion of the agency's: Strong coverage of maximum annual debt service (MADS) at 2.4x, based on fiscal 2010 tax increment revenues; Average volatility ratio of 0.19, reflecting only modest sensitivity in tax increment revenues due to changes in overall assessed value (AV); Strong additional bonds test, requiring 1.50x coverage of MADS; and Sizable 1,620-acre project area with strong...
Companies mentioned in this report are: Orlando,Orlando Comnty Redev 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.
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 >
Orlando,Orlando Comnty Redev Agy