Summary: Monroe, Louisiana; Sales Tax Sep 11
- ID: 1886126
- September 2011
- Region: Louisiana
- Standard & Poors
Standard & Poor's Ratings Services assigned its 'A+' long-term rating and stable outlook to Monroe, La.'s series 2011A sales tax refunding bonds and affirmed its 'A+' underlying rating (SPUR), with a stable outlook, on the city's existing sales tax debt. The rating reflects our view of the city's: Role as a regional service and retail center for northeastern Louisiana; Continued strong debt service coverage (DSC) despite the issuance of additional debt; and Good legal provisions, highlighted by a two-year historical additional bonds test that requires 1.35x future maximum annual debt service (MADS) coverage. We believe somewhat offsetting rating factors include the city's: Low income, and Moderate concentration in the leading sales tax generators. Revenue from an electorate-authorized, dedicated one-cent sales...
Companies mentioned in this report are: Monroe
Action: New Rating
Action: Outlook: Stable
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
SHOW LESS READ MORE >