Puerto Rico Sales Tax Financing Corp.'s Series 2011C-D Revenue Bonds Rated 'AA-'; Other Ratings Affirmed Nov 11
Standard & Poors, November 2011
Abstract
DALLAS (Standard & Poor's) Nov. 29, 2011--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 COFINA's first subordinate sales 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...
Companies mentioned in this report are: Puerto Rico Sales Tax Fin Corp
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.
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.
Puerto Rico Sales Tax Fin Corp
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