Summary: Springdale, Arkansas; Sales Tax - S&P Global Ratings’ Credit Research

Summary: Springdale, Arkansas; Sales Tax

Summary: Springdale, Arkansas; Sales Tax - S&P Global Ratings’ Credit Research
Summary: Springdale, Arkansas; Sales Tax
Published Apr 09, 2010
Published Apr 09, 2010
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Abstract:

Standard&Poor's Ratings Services lowered its underlying rating (SPUR) on Springdale, Ark.'s series 2006 sales and use tax refunding and improvement bonds two notches to 'A' from 'AA-' based on the city's declining sales tax revenues, which have led to a significant debt service coverage (DSC) reduction. The outlook is stable. The rating reflects our opinion of: Recent sales tax revenue declines that have subsequently caused DSC to deteriorate to a weak 1.07x maximum annual debt service (MADS); and What we believe is a structural shift in the city's retail base due to the emergence of competing shopping alternatives in neighboring communities, including Rogers, Ark.; Bentonville, Ark.; and Fayetteville, Ark. The closed flow of funds, closed lien, and mandatory

  
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Summary

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Sector
Global Issuers, Public Finance
Country
Region
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MLA:
S&P Global Ratings’ Credit Research. "Summary: Springdale, Arkansas; Sales Tax" Apr 09, 2010. Alacra Store. Nov 24, 2017. <http://www.alacrastore.com/s-and-p-credit-research/Summary-Springdale-Arkansas-Sales-Tax-788622>
  
APA:
S&P Global Ratings’ Credit Research. (). Summary: Springdale, Arkansas; Sales Tax Apr 09, 2010. New York, NY: Alacra Store. Retrieved Nov 24, 2017 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-Springdale-Arkansas-Sales-Tax-788622>
  
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