Augusta, GAs Series 2018 Taxable Revenue Bonds Rated #AA#

Stocks and Financial Services Press Releases Tuesday February 13, 2018 09:08
CENTENNIAL--13 Feb--S&P Global Ratings

CENTENNIAL (S&P Global Ratings) Feb. 12, 2018--S&P Global Ratings assigned its 'AA' rating to the Augusta Urban Redevelopment Agency, Ga.'s series 2018 taxable revenue bonds, supported by the consolidated government of Augusta. The outlook is stable.

"The stable outlook reflects our opinion that Augusta will likely maintain its very strong budgetary flexibility and liquidity," said S&P Global Ratings credit analyst Daniel Hughes. "In addition, we believe Augusta's expanding local economy, position as a regional hub, and major local institutions, including Augusta University and Fort Gordon, provide additional rating stability."

The series 2018 revenue bonds are secured by a pledge of, and lien on, payments made by Augusta to the Urban Redevelopment Agency of Augusta pursuant to an Intergovernmental Redevelopment Contract, under which the consolidated government has agreed to make payments to the authority in amounts sufficient to pay principal and interest on the bonds. The consolidated government's obligation to make the payments is absolute and unconditional and will not expire as long as any of the bonds remain outstanding. Under the agreement, the consolidated government has pledged its full faith and credit, to the extent necessary to make the payments, and agreed to levy an annual ad valorem tax on all taxable property within the consolidated government's limits. Proceeds will be used to construct a mixed-use development consisting of market rate rental units and approximately 4,000 square feet of commercial space.

Certain terms used in this report, particularly certain adjectives used to express our view on rating relevant factors, have specific meanings ascribed to them in our criteria, and should therefore be read in conjunction with such criteria. Please see Ratings Criteria at www.standardandpoors.com for further information. Complete ratings information is available to subscribers of RatingsDirect at www.capitaliq.com. All ratings affected by this rating action can be found on the S&P Global Ratings' public website at www.standardandpoors.com. Use the Ratings search box located in the left column.


Latest Press Release

Photo Release: KBank teams up with PTTOR to offer first KBank Service at Cafe Amazon, PTT Service Station (Ekamai-Ramintra)

Ms. Jiraporn Khaosawas (1st from left), Chief Executive Officer and Managing Director of PTT Oil and Retail Business PCL. (PTTOR), and Mr. Patchara Samalapa, KBank President, recently introduced "KBank Service" or deposit service at Cafe Amazon, PTT...

SHREIT announces distribution for unitholders of 0.2561 baht per unit All three existing hotels continue to generate excellent revenues in past three months Results from first 10 months of 2018 yield total distribution of 0.5997 baht per unit

Strategic Hospitality Extendable Freehold and Leasehold Real Estate Investment Trust (SHREIT) on 19 November 2018 announced distribution payment for the past four months (1 August - 31 October 2018) to unitholders at the rate of 0.2561 baht per unit. And...

KTC joins forces with Bangkok Airways Airline in launching seven brand-new KTC Bangkok Airways credit cards beyond the power of boutique, all-in-one cards.

KTC jointly with Bangkok Airways, celebrate their 13th partnership anniversary and Bangkok Airways' 50th anniversary, transforming seven KTC – Bangkok Airways credit cards to cover all card alliance networks including MasterCard, VISA and JCB,...

SEC Dates CAZ Filing Plans to Sell 80 Million of IPO Shares To Increase Working Capital and Serve More Future Works

The Securities and Exchange Commission Thailand (SEC) dated the filing of CAZ (Thailand) Public Company Limited or "CAZ" for listing in the Market for Alternative Investment (MAI). The Company plans to sell 80 million of initial public offering (IPO)...

UnionPay Launches UnionPay Celebrating You Campaign Offering exclusive privileges that let customers save more this festive season

Photo Caption – Mr. Pingfu Zheng (third from left), Thailand Country Manager, Union Pay International and Mr. Thanakorn Puriwekin (second from left), Director and Chief Films Officer, Major Cineplex Group, attended the launch event for UnionPay...

Related Topics