Summary: San Diego County Regional Transportation Commission, California; Sales Tax May 12
- ID: 2127323
- May 2012
- Region: California
- Standard & Poors
Standard & Poor's Ratings Services assigned its 'AAA' rating to the San Diego County Regional Transportation Commission, Calif.'s series 2012A sales tax revenue bonds. At the same time, Standard & Poor's affirmed its 'AAA' rating on the commission's sales tax bonds outstanding. The outlook is stable. The rating reflects our view of the commission's: Participation in the broad and deep San Diego County economy, which remains strong despite weak state and national economies; Diverse sales tax revenue base, combined with management's projection that collections will increase; Strong debt service coverage despite larger-than-historical declines in sales tax revenues in fiscal 2009 and fiscal 2010; and Strong additional bonds test (ABT) of 2.0x, which will be increased from 1.3x with the 2012A...
Companies mentioned in this report are:
- San Diego Cnty Regl Transp Com
Action: New Rating
Action: Outlook: Stable
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