Valparaiso Park & Recreation District, IN 'A-' Series 2004 Refunding Bond Rating Affirmed, Off Watch Aug 11
- ID: 1856649
- August 2011
- Standard & Poors
NEW YORK (Standard & Poor's) Aug. 4, 2011--Standard & Poor's Ratings Services affirmed its 'A-' underlying rating (SPUR) on Valparaiso Park & Recreation District, Ind.'s series 2004 refunding bonds, issued for Valparaiso, Ind., and removed the rating from CreditWatch with developing implications where it was placed on March 31, 2011. The outlook is stable. Although the rating remains 'A-', the rating now reflects Standard & Poor's special tax criteria. "We believe the district will likely continue to monitor its golf course and training center revenue and operations closely to maintain, what we consider, at least adequate debt service coverage on its series 2004 bonds," said Standard & Poor's credit analyst Daniel Zuccarello. "To the extent debt service coverage declines below...
Companies mentioned in this report are:
- Valparaiso Pk & Recre Dist
Action: Outlook: Stable
Action: Removed From CreditWatch
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.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.