Summary: Orlando, Florida; Miscellaneous Tax Apr 10

  • ID: 1835727
  • April 2010
  • Region: Florida
  • Standard & Poors
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Standard & Poor's Ratings Services has lowered its Standard & Poor's underlying ratings (SPUR) on the City of Orlando, Fla.'s tourist development tax (TDT) revenue bonds series 2008A (first lien), 2008B (second lien), and 2008C (third lien). We lowered the SPUR on the TDT series 2008A to 'BB' from 'A'; the SPUR on the TDT series 2008B to 'CCC' from 'A'; and the SPUR on the series 2008C to 'CC' from 'BBB+'. At the same time, Standard & Poor's removed the ratings from CreditWatch, where they had been placed April 7, 2010. The outlook on the series 2008A and 2008B bonds is developing, and the outlook on the series 2008C is negative. The bonds are insured by Assured Guaranty Corp....

Companies mentioned in this report are: Orlando
Action: Downgraded

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