S&P Credit Research



Title:

Summary: Agoura Hills Redevelopment Agency, California; Tax Increment

Price:$175.00
Publication Date:Apr 30, 2008
Report Type:Summary
Abstract:Standard&Poor's Ratings Services assigned its 'A-' standard long-term rating to Agoura Hills Redevelopment Agency, Calif.'s series 2008 tax allocation bonds (nonhousing). The rating reflects the following credit characteristics: A large, primarily commercial project area with very high taxpayer concentration; A high volatility ratio of 0.44, reflecting significant sensitivity in tax-increment revenues due to changes in overall assessed value (AV); Good coverage of proposed maximum annual debt service (MADS) at 1.89x; and The city's very strong income levels. The bonds are secured by a senior lien on tax increment revenues generated in the project area net of the 20% housing set-aside requirement and senior pass through payments. All of the tax sharing agreements provide for level pass through payments
Issuer:Agoura Hills Redev Agy
Sector:Public Finance
Country:United States
Region:United States
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S&P Credit Research

S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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