Summary: Ponchatoula Area Recreation District No. 1, Louisiana; Appropriations - S&P Global Ratings’ Credit Research

Summary: Ponchatoula Area Recreation District No. 1, Louisiana; Appropriations

Summary: Ponchatoula Area Recreation District No. 1, Louisiana; Appropriations - S&P Global Ratings’ Credit Research
Summary: Ponchatoula Area Recreation District No. 1, Louisiana; Appropriations
Published Jul 12, 2018
3 pages (1129 words) — Published Jul 12, 2018
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

S&P Global Ratings raised its underlying rating (SPUR) to 'AA-' from 'A+' on Ponchatoula Area Recreation District No. 1, La.'s series 2015 revenue refunding bonds. The outlook is stable. The rating action reflects the application of our criteria "Issue Credit Ratings Linked To U.S. Public Finance Obligors' Creditworthiness," published Jan. 22, 2018, on RatingsDirect. The series 2015 bonds are secured by the district's 10- and 4-mill ad valorem tax levies. If such revenue is insufficient, the district can use any other income, revenue, and receipts from any source as long as it has not legally dedicated said income, revenue, and receipts for incompatible purposes with the refunding. Consequently, we view the security as a non-ad valorem pledge. Under the revised

  
Brief Excerpt:

...Primary Credit Analyst: Joyce Jung, Centennial + 1 (303) 721 4189; joyce.jung@spglobal.com Secondary Contact: Joshua Travis, Dallas 972-367-3340; joshua.travis@spglobal.com...

  
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Summary

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Public Finance
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MLA:
S&P Global Ratings’ Credit Research. "Summary: Ponchatoula Area Recreation District No. 1, Louisiana; Appropriations" Jul 12, 2018. Alacra Store. Sep 18, 2018. <http://www.alacrastore.com/s-and-p-credit-research/Summary-Ponchatoula-Area-Recreation-District-No-1-Louisiana-Appropriations-2070724>
  
APA:
S&P Global Ratings’ Credit Research. (). Summary: Ponchatoula Area Recreation District No. 1, Louisiana; Appropriations Jul 12, 2018. New York, NY: Alacra Store. Retrieved Sep 18, 2018 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-Ponchatoula-Area-Recreation-District-No-1-Louisiana-Appropriations-2070724>
  
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