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Summary: Orlando, Florida; Sales Tax Dec 07

  • ID: 1834558
  • December 2007
  • Region: Florida
  • Standard & Poors
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Standard & Poor's Ratings Services assigned its 'A+' rating, and stable outlook, to the city of Orlando, Fla.'s series 2007 state sales tax revenue bonds. The rating reflects: Florida's track record of revenue sharing with local governments and ensuring the integrity of the revenue streams used to secure debt; and The lack of additional debt supported by pledged revenues. Offsetting factors include adequate 1x debt service coverage (DSC) and a fixed dedicated revenue stream that funds debt service securing the bonds. Securing the bonds are annual distributions of a portion of state sales tax revenues under Sections 288.1162 of Florida Statutes. The state office of tourism, trade, and economic development has certified this project as a facility for a new...

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

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