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Bay Laurel Center Community Development District, FL's Series 2010 Revenue Bonds Rated 'A' Nov 10
Standard & Poors, Nov 2010
Abstract
NEW YORK (Standard & Poor's) Nov. 8, 2010--Standard & Poor's Ratings Services has assigned its 'A' long-term rating to Bay Laurel Center Community Development District, Fla.'s $34.06 million series 2010 water and sewer revenue bonds. The outlook is stable. The rating reflects Standard & Poor's view of the system's: Stable management and operations team, History of regular rate increases with recent approval of an inflation-indexed rate inflator, Good historical financial performance with strong liquidity levels, and Modest $2.6 million five-year capital improvement plan with no plans for additional debt. Credit weaknesses, in Standard & Poor's view, include: Above-average water and wastewater rates with a limited income customer base, and A highly leveraged system. 'The stable outlook reflects our expectation that...
Companies mentioned in this report are: Bay Laurel Center Community Development District
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.
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.
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