Lake Elsinore Redevelopment Agency, CA TAB Rating Raised To #AA-# On Continued AV Growth

Stocks and Financial Services Press Releases Wednesday February 14, 2018 09:33
SAN FRANCISCO--14 Feb--S&P Global Ratings

SAN FRANCISCO (S&P Global Ratings) Feb. 13, 2018--S&P Global Ratings raised its underlying rating to 'AA-' from 'A+' on Lake Elsinore Facilities Financing Authority, Calif.'s series 2010B tax allocation bonds (TABs), issued on behalf of the Lake Elsinore Redevelopment Agency (RDA). The outlook is stable.

"The raised rating reflects our view of the RDA's continued robust assessed value growth, which strengthened the agency's maximum annual debt service coverage to very strong levels," said S&P Global Ratings credit analyst Jean Lee.

The series 2010B bonds are secured by one underlying loan agreement with the Lake Elsinore RDA against the low- and moderate-income housing set-aside tax increment revenues generated from project areas 1, 2, and 3.

Lake Elsinore has a population of 58,060 and is located in Southwest Riverside County, bordering San Diego County to the south and Orange County to the west. Interstate 15, a north-south thoroughfare, bisects the agency.


Latest Press Release

Thai 2018 CG Score Hits Record Listed Firms Emphasizes More on Stakeholders

The 2018 Corporate Governance Report of Thai Listed Companies (CGR), conducted by the Thai Institute of Directors (IOD) with support from the Stock Exchange of Thailand (SET), showed a 'very good' result and marked a historical high at 81%. The robust...

Sonic Interfreight Pcl. Advances Its Business Potential with an Eye on Growth To Be Leader in Integrated Logistics and Supply Chain Management in ASEAN

Sonic Interfreight Pcl. (SONIC), a leading regional provider of integrated freight and logistics services, is ready to be traded in the Market of Alternative Investment (MIA) for the first time on October 19 with full confidence of positive investors'...

Bangkok Bank reports nine-month net profit of Baht 27,229 million

The Thai economy continued to grow on the back of strong exports and buoyant domestic demand. In spite of the risks from the US trade policies and retaliatory measures of trading partners, exports continued to expand given diversified export...

Siam Commercial Bank reported Baht 10.5 billion net profit for the third quarter of 2018 and Baht 33.0 billion for the first nine months of 2018

Siam Commercial Bank and its subsidiaries announced total operating income of Baht 104.4 billion, a 2.5% yoy increase, for the first nine months of 2018. This positive income growth was achieved despite the digital transaction fee waiver. Operating...

Mastercard Appoints Aileen Chew as the New Head of Market Development

Today Mastercard announced the appointment of Ms. Aileen Chew as Head of Market Development, Thailand and Myanmar. In her new role, Ms. Chew will be responsible for the expansion of cashless payments in Thailand and Myanmar, overseeing engagement with...

Related Topics