- Language: English
- 874 Pages
- Published: December 2013
- Region: United States
Summary: Broussard, Louisiana; Sales Tax Mar 12
- Published: March 2012
- Region: Louisiana
- Standard & Poors
Standard & Poor's Ratings Services affirmed its 'A-' long-term rating and underlying rating (SPUR), with a stable outlook, on Broussard, La.'s sales tax revenue bonds. The rating reflects our view of the city's: Strong maximum annual debt service (MADS) coverage, and Legal provisions that include a 1.35x MADS additional bonds test. We believe somewhat offsetting factors include the city's: Moderately concentrated sales tax revenue base, and Volatility associated with sales tax revenue. A 1% sales-and-use tax, originally authorized in 1991, secures the bonds. The city currently has series 2005, 2007, and 2008 parity bonds outstanding. Broussard, with a population estimate of 7,900, is in southwestern Louisiana, about 30 miles from the Gulf of Mexico and six miles southeast of Lafayette....
Companies mentioned in this report are: Broussard
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.
SHOW LESS READ MORE >