• 1-800-526-8630U.S. (TOLL FREE)
  • 1-917-300-0470EAST COAST U.S.
  • +353-1-416-8900REST OF WORLD

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

  • ID: 1930179
  • October 2011
  • Region: California
  • Standard & Poors


  • Riverside Cnty Redev Agy
  • MORE

Standard & Poor's Ratings Services has affirmed its 'BBB+' rating on Riverside County Redevelopment Agency, Calif.'s Mid-County Redevelopment Project Area (MCPA) 2010 tax allocation bonds (TABs) series C. The outlook is stable. The rating on the TABs reflects what we view as: Declines in the project area assessed value (AV) in the past couple of years that have reduced coverage; Taxpayer concentration within the top taxpayer; and Only adequate 1.22x coverage of maximum annual debt service (MADS). We believe the following factors mitigate these weaknesses somewhat: A large project area balanced between commercial and residential aAV; and A moderate tax volatility ratio of 0.19. Securing the bonds is first-lien tax increment revenue from MCPA, net of the 20% set-aside requirement...

Companies mentioned in this report are: Riverside Cnty Redev Agy
Action: Affirmed
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 READ MORE >

Note: Product cover images may vary from those shown

Riverside Cnty Redev Agy

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown


Our Clients

Fluidigm Corporation Apple, Inc. CEVA Santé Animale Abbott Laboratories Ltd. Merck Group Allergan Inc. Pfizer, Inc.