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Summary: Orlando, Florida; General Obligation; Miscellaneous Tax Mar 08

  • ID: 1835546
  • March 2008
  • Region: Florida
  • Standard & Poors

Standard & Poor's Ratings Services assigned its 'AA-' rating, and stable outlook, to Orlando, Fla.'s series 2008B 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. Standard & Poor's also affirmed 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 anti-dilution test limitations and stabilization reserve account...

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

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