Valparaiso Park & Recreation District, IN 'A-' Series 2004 Refunding Bond Rating Affirmed, Off Watch Aug 11

  • ID: 1856649
  • August 2011
  • Standard & Poors
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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
- Valparaiso

Action: Affirmed
Action: Outlook: Stable
Action: Removed From CreditWatch

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Research type: News
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- Valparaiso Pk & Recre Dist
- Valparaiso

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