Murrieta Public Financing Authority, CA Revenue Bond Rating Raised To #A# From #BBB-# On Application Of Our Criteria

Stocks and Financial Services Press Releases Thursday May 17, 2018 09:16
SAN FRANCISCO--17 May--S&P Global Ratings

SAN FRANCISCO (S&P Global Ratings) May 16, 2018--S&P Global Ratings raised its long-term rating to 'A' from 'BBB-' on Murrieta Public Financing Authority, Calif.'s series 2012 special tax revenue refunding bonds. The outlook is stable.

The rating reflects the application of our updated methodology for assessing special assessment, "Special Assessment Debt", published April 2, 2018 on RatingsDirect. The series 2012 bonds are a Marks-Roos Joint Exercise of Powers Act financing structure. The authority bonds are secured by revenue described under the indenture as annual debt service payments from five separate community facilities districts (CFDs) (Nos. 2000-1, 2001-1 [Improvement Areas 1 and 2], 2003-1, and 2003-2).

In turn, each participating CFD's annual debt service payments to the authority are secured by Mello-Roos special tax revenue collected within the respective CFD. Each CFD's debt service obligation is several, and special taxes levied in one CFD cannot be used to pay debt service in another. Murrieta serves an estimated 114,559 residents in southwestern Riverside County. The city is equidistant to San Diego, Los Angeles, and greater Orange County.


Latest Press Release

Photo Release: SCB first in Thailand to launch the top up service with Lazada providing with special 100 baht bonus for 500 baht when top up in Lazada Wallet

In a bid to boost the e-commerce market, Siam Commercial Bank has teamed up with Lazada Co., Ltd. to offer increased online shopping convenience on digital platforms with a new service allowing shoppers to directly top up their Lazada Wallet from SCB...

China (Guzhen) International Lighting Fair (Autumn) will Open a Host Buyer Program

The 22nd China (Guzhen) International Lighting Fair (Autumn) will be held concurrently with 2018 Guzhen Manufacturing Exhibition (Autumn) in Guzhen Convention and Exhibition Centre on October 22-26. The fair will focuse on both overseas and domestic...

KBank invests 8-billion-Baht in KVision to expand Regional Business and serve customers in an era of borderless banking services and increasingly digital consumers

With the aim to support the inception of "Regional Life Platform of Choice" and expand regional business in AEC+3 markets, KASIKORNBANK (KBank) has invested 8 billion baht in a new company "KVision", which will engage in joint ventures with leading...

KTC launches Take Moms on Fun-Filled Vacations Getaways special promotion.

"KTC" or Krungthai Card Public Company Limited, organizes "Take Moms on Fun-Filled Vacations Getaways" special promotion through KTC World Travel Service, an exclusive travel service center for KTC credit card members, to take their mothers and family...

Fitch Affirms BAM at #AA-(tha)#; Outlook Negative

Fitch Ratings (Thailand) has affirmed Bangkok Commercial Asset Management Public Company Limited's (BAM) National Long-Term Rating at 'AA-(tha)' with a Negative Outlook. A full list of rating action is at the end of this commentary. KEY RATING...

Related Topics