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CA Statewide Communities Dev Auth/Riverside Cnty 2000 Tax and Rev Antic Bnds Rtd 'SP-1+' Jun 00
Standard & Poors, June 2000
Abstract
SAN FRANCISCO (Standard & Poor's CreditWire) June 6, 2000-- Standard & Poor's today assigned its 'SP-1'-plus rating to California Statewide Communities Development Authority's $235 million 2000 tax and revenue anticipation bonds series C-2 due Oct. 4, 2001, issued for Riverside County. The bonds are scheduled to sell June 6, 2000. The rating reflects: -- Riverside County's strong general creditworthiness; -- A note structure that includes the early segregation of county TRAN repayment amounts; and -- Strong overall liquidity with projected net debt service coverage of more than 2.2 times (x), including available general fund resources and alternative cash resources at fiscal year-end June 30, 2001. The bonds are secured by revenues derived from the purchase of a like amount of...
Companies mentioned in this report are: California Statewide Communities Dev Auth
Action: New Rating
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.
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