Orlando Community Redevelopment Agency, FL Outlook Revised To Negative On Potential Further Coverage Decline Dec 12
- Language: English
- Published: December 2012
The 'A' rating on Orlando, Fla.'s tax increment revenue refunding and revenue bonds (downtown district project) series 2002 reflects: A large project area that has demonstrated relatively strong assessed valuation (AV) growth in recent years, The essentially strong nature of the underlying Orlando MSA economy, Legal provisions that include an additional bonds test of 1.50 times (x) and a debt service reserve funded at maximum annual debt service (MADS), and Strengthening MADS coverage levels that reached approximately 3.0x in fiscal 2001. An offsetting credit factor is the level of AV concentration among the leading taxpayers. The bonds are secured by tax increment revenues generated in the "downtown district" by Orlando, Orange County, and the downtown development board. The bonds will...
Companies mentioned in this report are: Orlando
Action: New Rating
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