Summary: Orlando, Florida; General Obligation; Miscellaneous Tax Mar 07
- ID: 1834111
- March 2007
- Region: Florida
- Standard & Poors
Standard & Poor's Ratings Services assigned its 'AA-' rating to Orlando, Fla.'s capital improvement special revenue bonds, series 2007A, and affirmed its 'AA-' rating on the city's parity debt. In addition, Standard & Poor's affirmed its 'AA' issuer credit rating (ICR) on the city. The 'AA-' rating reflects: The city's very strong underlying credit quality; Orlando's covenant 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; The strong legal provisions of the covenant ordinance and other executing documents, including conservative anti-dilution test limitations and stabilization reserve account requirements; and The importance of the covenant program in providing funds for the financing...
Companies mentioned in this report are: Orlando
Action: New Rating
Action: Outlook: Stable
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