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 Ctr City Rev Fin Corp
Action: New Rating
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