Orlando Utilities Commission, FL's 2013A Revenue Refunding Bonds Assigned 'AA' Rating; Other Ratings Affirmed Nov 12
- Language: English
- Published: November 2012
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: 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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
SHOW LESS READ MORE >