Bangkok--1 Apr--Standard & Poor's
Standard & Poor's Ratings Services assigned its 'A' long-term rating to Heritage Greens Metropolitan District, Colo.'s series 2010 general obligation bonds. The outlook is stable.
"Key rating factors include our view of the district's taxing area located in Centennial; strong unrestricted reserves equaling 90% of expenditures at the end of fiscal 2009; and diverse taxpayer base, with the top 10 taxpayers accounting for 16.2% of total assessed value," said Standard & Poor's credit analyst Bryan Moore.
We understand that the district will use the bond proceeds for the replacement of the existing swimming pool and adjacent facilities and equipment.
The district encompasses approximately 193 acres within the boundaries of the City of Centennial, approximately 20 miles southeast of downtown Denver. Within its boundaries is the fully developed Heritage Greens residential community, which consists of 578 single-family homes, open space, and a recreation facility that includes a swimming pool and adjacent facilities and equipment, tennis court, volleyball court, and parking area.
RELATED CRITERIA AND RESEARCH
USPF Criteria: Methodology And Assumptions: Rating Unlimited Property Tax Basic Infrastructure Districts, March 17, 2009
Complete ratings information is available to RatingsDirect on the Global Credit Portal subscribers at www.globalcreditportal.com and RatingsDirect subscribers at www.ratingsdirect.com. All ratings affected by this rating action can be found on Standard & Poor's public Web site at www.standardandpoors.com. Use the Ratings search box located in the left column.
Media Contact:
Ana Sandoval, New York (1) 212-438-5095,
[email protected]
Analyst Contacts:
Bryan A Moore, San Francisco (1) 415-371-5077
David G Hitchcock, New York (1) 212-438-2022
Key Contacts:
Americas Media Relations: (1) 212-438-6667
media_
[email protected]
Americas Customer Service: (1) 212-438-7280
[email protected]
Standard & Poor's,