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Summary: Riverside County Redevelopment Agency, California; Tax Increment Mar 11

  • ID: 1924826
  • March 2011
  • Region: California
  • Standard & Poors

FEATURED COMPANIES

  • Riverside Cnty Redev Agy
  • MORE

Abstract
Standard & Poor's Ratings Services assigned its 'A-' long-term rating, and stable outlook, to Riverside County Redevelopment Agency, Calif.'s Jurupa Valley Redevelopment Project Area (JVPA) series 2011B and 2011B-T tax-allocation bonds (TABs). At the same time, Standard & Poor's affirmed its 'A-' rating on the JVPA's existing series 2010 TABs. The rating reflects what we view as: A very large, primarily industrial and residential project area with moderate taxpayer concentration; Adequate 1.27x coverage of maximum annual debt service (MADS) and a satisfactory 1.25x additional bonds test (ABT); and A moderate base-to-total assessed value (AV) revenue volatility ratio. These strengths are partially offset, in our opinion, by recent declines in AV, after a period of strong growth. The bonds are secured...

Companies mentioned in this report are: Riverside Cnty Redev Agy
Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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Riverside Cnty Redev Agy

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