- Language: English
- Published: March 2013
- Region: Florida
Summary: Poinciana Community Development District, Florida; Special Assessments Mar 12
- ID: 2091271
- March 2012
- Region: Florida
- Standard & Poors
Standard & Poor's Ratings Services has assigned its 'A-' long-term rating to Poinciana Community Development District, Fla.'s series 2012A-1 special assessment refunding bonds. The 'A-' rating reflects our opinion of: The bonds' structure, which we believe provides for additional liquidity for the series 2012A-1 bonds, which we estimate is sufficient to cover the loss of the 10 leading assessment payers through the bonds' maturity; The assessment area's good overall property value-to-lien ratio of 16 to 1, including overlapping debt; A history of maintenance of adequate annual debt service coverage by annual special assessments; A history of low assessment payment delinquency rates at an average of 1.5% annually over the past three years; and The district's board, which we understand is...
Companies mentioned in this report are: Poinciana Community Development District
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.
SHOW LESS READ MORE >