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Summary: Lincoln Public Financing Authority, California Lincoln; Appropriations Jun 10 Product Image

Summary: Lincoln Public Financing Authority, California Lincoln; Appropriations Jun 10

  • ID: 1927854
  • June 2010
  • Region: California
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services affirmed its 'A' rating and underlying rating on the Lincoln Public Financing Authority, Calif.'s outstanding lease revenue bonds, issued for the City of Lincoln. The rating reflects our view of the general creditworthiness of Lincoln as the lessee, and Lincoln's covenant to budget and appropriate lease payments. In particular, the rating reflects our view of the city's: Continued participation in the stable local economies of the Sacramento and Placer County metropolitan statistical areas; Consistently very strong reserve levels, with fiscal 2009 showing an unreserved fund balance of $2.5 million, or 16% of expenditures; and Extremely strong market value per capita. Partially offsetting factors is our view of a high overall debt level per capita, a...

Companies mentioned in this report are: Lincoln,Lincoln Pub Fincg Auth
Action: Affirmed
Action: Outlook: Stable

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