Summary: Puerto Rico Sales Tax Financing Corp.; Sales Tax Nov 11

Standard & Poors, November 2011

Abstract
Standard & Poor's Ratings Services' assigned its 'AA-' rating and stable outlook to Puerto Rico Sales Tax Financing Corp.'s (COFINA) approximately $1.081 billion in sales tax revenue bonds, senior series 2011C and series 2011D. In addition, Standard & Poor's affirmed its 'AA-' rating and stable outlook on the corporation's approximately $5.7 billion in senior-lien sales tax revenue bonds outstanding. We also affirmed the 'A+' rating and stable outlook on the corporation's first subordinate sale tax revenue bonds outstanding. The 'AA-' rating on the senior bonds and 'A+' rating on the first subordinate lien bonds continue to reflect our opinion of: The corporation's strong legal structure that successfully separates the revenue stream securing the bonds from the Commonwealth of Puerto Rico...

Companies mentioned in this report are: Puerto Rico Sales Tax Fin Corp,Puerto Rico
Action: Affirmed
Action: New Rating
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.

Puerto Rico Sales Tax Fin Corp,Puerto Rico

Customers who bought this item also bought

• Charter Schools - Global Outlook
• eLEARNING - Global Strategic Business Report
• Aerospace and Defense Industry - Global Strategic Business Report
• Commercial And Military Flight Simulation - Global Strategic Business Report
• Sports and Fitness Nutrition - Global Strategic Business Report
• Education Services - Global Strategic Business Report
• North America – Smart Weapons Markets and Technologies Outlook – 2013-2020
• Global Defense Vehicle Industry 2012-2017: Trend, Profit, and Forecast Analysis
• Global Military Aircraft Industry 2012-2017: Trend, Profit, and Forecast Analysis
• Private Tutoring - Global Strategic Business Report