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
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