LaFayette, GA Series 2008 GO Sales Tax Bond Rating Lowered To 'BBB+' On Weakened Financial Position Mar 12
- Language: English
- Published: March 2012
The 'A+' rating on Lafayette, La.'s public improvement sales tax bonds and public improvement sales tax refunding bonds reflects the city's: Position as a regional retail trade and service center, Strong debt service coverage (DSC) exceeding 1.7 times (x) maximum annual debt service (MADS), Strong historical additional bonds test of 1.5x maximum future debt service and a fully funded debt service reserve fund, and Moderate concentration in sales tax generators. These strengths are offset by the city's: Economy, which exhibits some concentration in the oil and gas sector, although the economy has diversified over the past decade; and Somewhat volatile sales tax collections. A lien on the net proceeds of the 1961 electorate-approved one-cent sales and use tax secures the...
Companies mentioned in this report are: Lafayette
Action: New Rating
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