Summary: Arizona Transp Brd; Tax Secured, Gas Tax - S&P Global Ratings’ Credit Research

Summary: Arizona Transp Brd; Tax Secured, Gas Tax

Summary: Arizona Transp Brd; Tax Secured, Gas Tax - S&P Global Ratings’ Credit Research
Summary: Arizona Transp Brd; Tax Secured, Gas Tax
Published Aug 02, 2004
1264 words — Published Aug 02, 2004
Price US$ 225.00  |  Buy this Report Now

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Abstract:

Standard&Poor's Ratings Services assigned its 'AA' rating to Arizona Transportation Board's $200 million subordinated highway revenue bonds, series 2004B. The outlook is stable. The sale date is scheduled for around August 23. At the same time, Standard&Poor's affirmed its 'AAA' rating on the board's senior-lien highway revenue bonds and its 'AA' rating on the board's outstanding parity debt. The ratings reflect: Strong legal provisions in place consisting of a historic 4x maximum annual debt service (MADS) additional bonds test for the senior-lien bonds and a 3x test for the subordinate-lien bonds; Debt service coverage that continues to be strong, with 8.92x MADS coverage for the senior lien, based on actual pledged revenues for fiscal 2004, and

  
Brief Excerpt:

RESEARCH Summary: Arizona Transp Brd; Tax Secured, Gas Tax Publication date: 02-Aug-2004 Credit Profile US$200 mil subord hwy rev bnds ser 2004B dtd 08/15/2004 due 07/01/2012-2024 ## Sale date: 23-AUG-2004 AFFIRMED $639.200 mil. Arizona...

  
Report Type:

Summary

Issuer
Arizona Transportation Board
Sector
Public Finance
Country
United States
Region
United States
Format:
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MLA:
S&P Global Ratings’ Credit Research. "Summary: Arizona Transp Brd; Tax Secured, Gas Tax" Aug 02, 2004. Alacra Store. May 10, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Summary-Arizona-Transp-Brd-Tax-Secured-Gas-Tax-388133>
  
APA:
S&P Global Ratings’ Credit Research. (). Summary: Arizona Transp Brd; Tax Secured, Gas Tax Aug 02, 2004. New York, NY: Alacra Store. Retrieved May 10, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-Arizona-Transp-Brd-Tax-Secured-Gas-Tax-388133>
  
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