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

PTT - 9 Banks Join Forces on Financial Innovation Development to Support Thailand 4.0

Early today (28 May 2018), Mr. Tevin Vongvanich, President and Chief Executive Officer, PTT Public Company Limited, presided over the signing ceremony of memorandum of understanding (MOU) of Cooperation in Technology and Innovation between PTT Public...

KTC gives privileges to members at affiliated shops of Sport Revolutions with a chance of collective distance running KTC-REV The Ultimate 90 Days Challenge by LET#S RACE THAILAND.

"KTC" or Krungthai Card Public Company Limited by Ms. Sireerat Corvanich, Vice President - Credit Card Business, invites KTC cardmembers to enjoy the privileges of KTC-REV Credit Card when they spend on products at affiliated shops of Sports Revolution...

Photo Release: SEC and BSA host Good IT Governance seminar

The SEC and the Business Software Alliance (BSA) jointly organized a seminar on "Good IT Governance: Risk Management and Data Responsibility" for more than 300 participants from listed companies, securities companies, and investment management companies...

Huobi Strategizes Market Penetration into Vietnam Rapidly Growing Blockchain Market

Huobi.Pro, the leading global digital asset exchange, which saw a cumulative annual turnover of US$850-billion in 2017, announced its grand strategy to tackle the Vietnamese market during their keynote speech at Blockchain Festival Vietnam. Frank Fan,...

Marlborough District Council Ratings Affirmed at #AA/A-1+#; Outlook Remains Stable

- Marlborough District Council (Marlborough)'s long-term plan calls for higher levels of capital expenditure during the next few years. We expect Marlborough to record modest after-capital deficits through the forecast period, though its debt burden will...

Related Topics