- Language: English
- Published: June 2012
- Region: California
Summary: Alameda Contra Costa Transit District, California; Appropriations Dec 11
- ID: 2033881
- December 2011
- Region: California
- Standard & Poors
Standard & Poor's Ratings Services affirmed its 'A+' long-term rating and underlying rating (SPUR) on Alameda Contra Costa Transit District, Calif.'s certificates of participation (COPs) outstanding. The outlook is stable. The ratings reflect our view of: The long-term creditworthiness of the district, and A covenant to budget and appropriate pledged lease payments, subject to abatement in the event of damage to or the destruction of the leased assets that would impair their beneficial use. The COPs are secured under indentures whereby pledged lease revenues, which match debt service payments, are subject to abatement. The leases requires 24 months of rental interruption insurance to cover possible periods before recovery of casualty insurance proceeds. Under "triple net" lease provisions, the district is...
Companies mentioned in this report are: Alameda Contra Costa Transit Dist
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 >
Alameda Contra Costa Transit Dist