- Language: English
- Published: March 2012
- Region: Mississippi
Summary: Bay Laurel Center Community Development District, Florida; Water/Sewer Nov 10
- ID: 1886859
- November 2010
- Region: Florida
- Standard & Poors
Standard & Poor's Ratings Services has assigned its 'A' long-term rating to Bay Laurel Center Community Development District, Fla.'s series 2010 water and sewer revenue bonds, reflecting our 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 (CIP) with no plans for additional debt. Credit weaknesses, in our view, include: Above-average water and wastewater rates with a limited income customer base, and A highly leveraged system. Net system revenues, including all connection charges, secure the bonds. The district is expected to use the bond proceeds to finance the acquisition and expansion...
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.
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 >
Bay Laurel Center Community Development District