- Published: May 2012
- Region: United States
Summary: Riverside County Redevelopment Agency, California; Tax Increment Sep 11
- Published: September 2011
- Region: California
- Standard & Poors
Standard & Poor's Ratings Services lowered its underlying rating (SPUR) on Riverside County Redevelopment Agency (RDA), Calif.'s series 2006A tax allocation revenue bonds, issued for the (RDA) to 'BBB' from 'BBB+'. The outlook is stable. We base the downgrade on the declining assessed valuation (AV) and maximum annual debt service (MADS) coverage of the Desert Communities project area (DCPA). The 2006A bonds are secured by tax increment revenues from three separate project areas of the RDA, net of the 20% set-aside requirements for low- and moderate-income housing and tax increment "passed-through" to underlying taxing entities pursuant to separate tax-sharing agreements: the Jurupa Valley (JVPA) project area, the DCPA, and the Interstate-215 (I-215) project area. The pledged revenue from the I-215...
Companies mentioned in this report are: Riverside Cnty Redev Agy
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