Memphis Center City Revenue Finance Corporation Memphis, Tennessee; General Obligation Equivalent Security; Tax Increment Sep 11
- ID: 1921288
- September 2011
- Region: Tennessee
- Standard & Poors
Standard & Poor's Ratings Services assigned its 'A' rating to the Memphis Center City Revenue Finance Corporation, Tenn.'s series 2011A federally taxable senior revenue bonds (Pyramid and Pinch District Redevelopment Project), secured by incremental tourism development revenues. At the same time, Standard & Poor's assigned its 'AA-' rating to the corporation's series 2011B tax-exempt subordinate revenue bonds (Pyramid and Pinch District Redevelopment Project) and series 2011C federally taxable subordinate revenue bonds (Pyramid and Pinch District Redevelopment Project) secured by Memphis' nontax revenue pledge to replenish the debt service reserve fund. The outlook on all ratings is stable. The rating on the series 2011A bonds is based on what we believe will be strong annual debt service coverage generated from the...
Companies mentioned in this report are: Memphis,Memphis Ctr City Rev Fin Corp
Action: New Rating
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Research Type: Full Analysis