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California Statewide Communities Development Authority/Riverside County; General Obligation, Local Note Jun 00
Standard & Poors, June 2000
Abstract
The rating on California Statewide Communities Development Authority/Riverside County's tax and revenue anticipation bonds 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 TRANs issued by the county to address its fiscal 2001 seasonal cash flow needs. The TRANs are secured by taxes, income, revenue, and cash receipts attributable to fiscal 2001 and other legally available funds. The county has pledged to set aside...
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: Full Analysis
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