S&P Credit Research



Title:

Summary: Rancho Mirage Redevelopment Agency, California; Tax Increment

Price:$175.00
Publication Date:May 08, 2008
Report Type:Summary
Abstract:Standard&Poor's Ratings Services raised its rating and underlying rating (SPUR) to 'A+' from 'A' on Rancho Mirage Redevelopment Agency, Calif.'s outstanding senior lien bonds. At the same time, Standard&Poor's raised its rating and SPUR to 'A' from 'A-' on the agency's outstanding subordinate lien debt. Finally, Standard&Poor's assigned its 'A' rating to the agency's Northside subarea series 2008 tax allocation bonds. The raised rating reflects the agency's plans to close the liens. The rating additionally reflects: A very large and diverse project area supported by residents with very strong incomes; Moderate volatility in base-to-total assessed valuation (AV) revenues; and Adequate coverage of maximum annual debt service (MADS), and plan limitations that hinder the agency's
Issuer:Rancho Mirage 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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