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Memphis Center City Revenue Finance Corporation Memphis, Tennessee; General Obligation Equivalent Security; Tax Increment Sep 11

  • ID: 1921942
  • September 2011
  • Region: Tennessee
  • Standard & Poors
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Abstract
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 a first priority lien on all existing and incremental tourism development zone (TDZ) 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 a subordinate lien on all existing and incremental TDZ revenues and an agreement by the City of Memphis (AA/Stable) to replenish the debt service reserve fund from its non-tax revenues. The...

Companies mentioned in this report are:
- Memphis
- Memphis Ctr City Rev Fin Corp

Action: New Rating

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: Full Analysis

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- Memphis
- Memphis Ctr City Rev Fin Corp

Note: Product cover images may vary from those shown
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