Standard&Poor's Ratings Services has assigned its 'A-' long-term rating to the City of Atlanta, Ga.'s series 2013 (Perry Bolton project) tax allocation bonds. The outlook is stable. The rating reflects what we view as: A primarily residential 2,273-acre tax allocation district (TAD) within the northwestern portion of Atlanta; Good coverage of proposed maximum annual debt service (MADS) of 1.46x based on collected fiscal 2013 (ended June 30) tax increment revenues; Recent stable operating millage rates of the underlying taxing entities although rates declined modestly for fiscal 2014; and An adequate additional bonds test (ABT), requiring 1.25x MADS coverage based on the previous fiscal year's collected tax increment revenues with no allowances for projected future growth. The rating is
