Standard & Poor's Ratings Services assigned its 'A' long-term rating to the California Statewide Communities Development Authority, Calif.'s series 2012A transportation revenue certificates of participation (COP), issued on behalf of Desert Hot Springs, Calif. The outlook is stable. The rating reflects our view of the city's: Two pledged revenue streams that are derived from collections in much larger geographic areas than the city but distributed all or in part on the basis of slow-to-change local factors, such as population; Good 1.57x coverage of maximum annual debt service (MADS) by the gas tax portion of fiscal 2011 pledged revenues; Good 1.5x MADS additional bonds test (ABT). Partially offsetting these strengths is our view of: The potential for legislative changes to the...
Companies mentioned in this report are:
- Desert Hot Springs
- California Statewide Communities Dev Auth
Action: New Rating
Action: Outlook: Stable
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