Bangkok--17 Nov--Standard & Poor's
Standard & Poor's Ratings Services assigned its 'A+' long-term rating to the Los Angeles County Community Facilities District (CFD) No. 3 Improvement Area B (Valencia/Newhall), Calif.'s series 2011 special tax refunding bonds. The outlook is stable.
"The rating reflects our view of the district's good direct and overlapping assessed value to lien, full development, diverse tax base, and covenant not to issue additional bonds," said Standard & Poor's credit analyst Alda Mostofi.
We understand that bond proceeds will refund the district's special tax bonds series 2000A and 2001A.
The stable outlook reflects our anticipation that the district will likely provide strong debt service coverage for the series 2011 bonds.
RELATED CRITERIA AND RESEARCH
USPF Criteria: Special-Purpose Districts, June 14, 2007
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Media Contact:
Ola Fadahunsi, New York (1) 212-438-5095,
[email protected]
Analyst Contacts:
Alda A Mostofi, San Francisco (1) 415-371-5061
Jennifer Hansen, San Francisco 415-371-5035