- Language: English
- Published: September 2011
- Region: California
Summary: Riverside County Redevelopment Agency, California; Tax Increment Mar 11
- Published: March 2011
- Region: California
- Standard & Poors
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: New Rating
Action: Outlook: Stable
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
SHOW LESS READ MORE >
Riverside Cnty Redev Agy