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La Quinta Redevelopment Agency, CA?s TABs Removed From CreditWatch Positive; ?A+? Rating Affrmed Aug 11
Standard & Poors, August 2011
NEW YORK (Standard & Poor's) Aug. 5, 2011--Standard & Poor's Ratings Services affirmed its 'A+' underlying rating (SPUR) on La Quinta Redevelopment Agency, Calif.'s tax allocation bonds (TABs) issued for project area No. 1 and removed the bonds from CreditWatch, where they had been placed with positive implications April 1, 2011. The outlook is stable. "The affirmation and removal from CreditWatch are a result of the agency's decision not to issue the series 2011 subordinate TABs, which would have effectively closed the senior lien," said Standard & Poor's credit analyst Sussan Corson. Since the series 2011 subordinate TABs were not issued, the agency could have the ability to issue additional parity debt with a 1.3x additional bonds test (ABT). At...
Companies mentioned in this report are: La Quinta Redev Agy
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.
La Quinta Redev Agy