Orlando, Florida; General Obligation; Miscellaneous Tax Mar 08
Standard & Poors, March 2008
Abstract
Standard & Poor's Ratings Services assigned its 'AA-' rating, and stable outlook, to Orlando, Fla.'s series 2008A capital improvement special revenue bonds. At the same time, Standard & Poor's affirmed its 'AA-' underlying rating (SPUR) on the city's related parity debt and its 'AA' issuer credit rating (ICR) on the city. The 'AA-' rating reflects the: Very strong underlying credit quality of the city; Covenant by the city to budget and appropriate available non-ad valorem revenues attributable to its general and utilities services tax funds to pay debt service on the bonds; Very strong reserve levels; Strong legal provisions of the covenant ordinance and other executing documents, including conservative antidilution test limitations and stabilization reserve account requirements; and Importance of...
Companies mentioned in this report are: Orlando
Action: New Rating
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: Full Analysis
Orlando
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