Rating Lowered To 'A' On Richmond Joint Powers Finance Authority, CA's Bonds For Richmond Community Redevelopment Agency Oct 11

Standard & Poors, October 2011

Abstract
SAN FRANCISCO (Standard & Poor's) Oct. 3, 2011--Standard & Poor's Ratings Services lowered its underlying rating (SPUR) to 'A' from 'A+' on Richmond Joint Powers Finance Authority, Calif.'s series 2000 tax allocation revenue bonds (Pre-2004 Limit Merged Project Redevelopment Area), series A and B, issued for the Richmond Community Redevelopment Agency. The outlook is stable. "The rating was lowered due to assessed value (AV) declines in fiscals 2009 through 2011, which resulted in coverage dropping to what we consider a good level down from a level we view as strong," said Standard & Poor's credit analyst Kaitlyn Connors. The rating also reflects our view of: The small size of the project area, which increases the likelihood of AV volatility, and...

Companies mentioned in this report are: Richmond Comnty Redev Agy,Richmond Jt Pwrs Fin Auth
Action: Downgraded

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.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

Richmond Comnty Redev Agy,Richmond Jt Pwrs Fin Auth

Customers who bought this item also bought

• Information Literacy Efforts Benchmarks, 2013 Edition
• 2012 America's Neighborhoods-Zip Code 11419 for South Richmond Hill, NY report
• 2012 America's Neighborhoods-Zip Code 23223 for Richmond, VA report
• 2012 America's Neighborhoods-Zip Code 40475 for Richmond, KY report
• 2012 America's Neighborhoods-Zip Code 47374 for Richmond, IN report
• Charities & Charitable Organisations (UK)
• The Survey of Academic Library Subject Specialists: Political Science, Public and International Affairs
• The Survey of Academic Library Subject Specialists: Political Science & Public/International Affairs
• Library and Information Science Research in the 21st Century: A Guide for Practicing Librarians and Students
• Top 10 Companies in the US Public Sector - Government Industry: IT Spending Predictor 2009