Orlando, Florida; General Obligation Aug 09

  • ID: 1834260
  • August 2009
  • Region: Florida
  • Standard & Poors
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Standard & Poor's Ratings Services has assigned its 'AA-' long-term rating to Orlando, Fla.'s capital improvement special revenue bonds series 2009A, capital improvement refunding special revenue bonds series 2009B, and taxable capital improvement special revenue bonds (Direct Subsidy Build America Bonds) series 2009C and 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 city's: Strong and stable underlying credit quality, in our view; 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; Consistently strong reserve levels; Covenant ordinance and other executing documents, which in our view...

Companies mentioned in this report are: Orlando
Action: New Rating

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