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Outlook On Louisville Arena Authority Inc. Project Revenue Bond Rating Revised To Stable On TIF Calculation Agreement Jan 12
Standard & Poors, January 2012
SAN FRANCISCO (Standard & Poor's) Jan. 27, 2012--Standard & Poor's Ratings Services said today that it revised its outlook on the Louisville Arena Authority Inc. (LAA) project revenue bond rating to stable from negative. In addition, we affirmed our 'BBB-' underlying rating on the bonds. "The outlook revision reflects our view of the impact of a Sept. 14, 2011 amendment to the calculation of tax increment financing revenues for the project," said Standard & Poor's credit analyst Ben Macdonald. The tax increment financing (TIF) revenue baseline will increase only in years in which the arena meets a minimum debt service coverage ratio. The amendment applies to 2010 TIF revenues (paid to the arena in 2011) and future years. The 'BBB-'...
Companies mentioned in this report are: Louisville Arena Authority Inc.
Action: Outlook: Stable
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Louisville Arena Authority Inc.