Summary: Santa Monica Public Financing Authority, California Santa Monica Parking Authority Santa Monica; Appropriations; General Obligation Oct 11
Standard & Poors, October 2011
Abstract
Standard & Poor's Ratings Services assigned its 'AA+' long-term rating to the Santa Monica Public Financing Authority, Calif.'s lease revenue bonds series 2011A and lease revenue refunding bonds series 2011B issued on behalf of Santa Monica. In addition, Standard & Poor's affirmed its 'AA+' long-term rating on the authority's appropriation-backed lease revenue bonds and its 'AAA' long-term rating on the city's general obligation bonds (various issuers). Lastly, Standard & Poor's affirmed its 'AA+' long-term rating on the Santa Monica Parking Authority's previously issued lease revenue bonds. The outlook on all ratings is stable. The lease revenue ratings reflect our assessment of the city's: Strong general creditworthiness, and Covenant to budget and appropriate lease payments. The ratings further reflect our view...
Companies mentioned in this report are: Santa Monica,Santa Monica Pkg Auth,Santa Monica Pub Fincg Auth
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
Santa Monica,Santa Monica Pkg Auth,Santa Monica Pub Fincg Auth
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