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Summary: Orlando, Florida; General Obligation Aug 09
Standard & Poors, August 2009
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
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.
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