- Language: English
- Published: November 2012
- Region: Canada
Summary: Louisiana Local Governmental Facilities & Community Development Authority St. Martin Parish; Appropriations; General Obligation Sep 11
- Published: September 2011
- Region: Louisiana
- Standard & Poors
Standard & Poor's Ratings Services assigned its 'A' long-term rating and stable outlook to Louisiana Local Governmental Facilities & Community Development Authority's (LCDA) series 2011 revenue bonds, supported by St. Martin Parish. Standard & Poor's also affirmed its 'A+' underlying rating (SPUR), with a stable outlook, on the parish's general obligation (GO) debt. Officials intend to use series 2011 revenue bond proceeds to fund roads, bridges, drainage, and other capital improvements. Under an agreement with LCDA, a pledge of the parish's lawfully available funds solely secures the bonds. Although the agreement is binding and cannot be terminated due to nonappropriation, the parish has not pledged its full faith and credit to repaying the bonds; therefore, we rate the series 2011...
Companies mentioned in this report are: St. Martin Parish,Louisiana Local Govt Envir Facs & Comnty Dev Auth
Action: New Rating
Action: Outlook: Stable
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St. Martin Parish,Louisiana Local Govt Envir Facs & Comnty Dev Auth