Summary: Charleston County Park & Recreation District, South Carolina; General Obligation Feb 13
- ID: 2417154
- February 2013
- Region: South Carolina
- Standard & Poors
Standard & Poor's Ratings Services assigned its 'AA+' rating and stable outlook to Charleston County Park & Recreation District, S.C.'s series 2013 general obligation (GO) bonds and affirmed its 'AA+' rating, with a stable outlook, on the district's existing GO debt. The rating reflects our opinion of the district's: Growing and diversified local economy that is the economic driver for an entire region, highlighted by significant port, medical, tourist, and military elements; Sizable and diverse property tax base that continues to experience steady and consistent growth; Historically strong financial performance, bolstered by historically strong reserves; and Low overall net debt with rapid amortization. We believe the district's historically elevated debt service carrying charge continues to somewhat mitigate these strengths. The...
Companies mentioned in this report are:
- Charleston Cnty Pk & Recre Dist
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 >