Standard&Poor's Ratings Services has assigned its 'A-' long-term rating to Atlanta, Ga.'s series 2016 (Eastside project) tax allocation refunding bonds and affirmed its 'A-' long-term on the project's outstanding parity tax allocation debt of the project area. The outlook is stable. The series 2016 bonds will refund the city's outstanding series 2005B tax allocation bonds (Eastside Project) and sufficiently fund the series 2016 debt service reserve (DSR) account. The bonds are payable from tax-increment revenues derived from property in the Eastside tax allocation district (TAD). The rating reflects our opinion of: A primarily commercial 890-acre TAD in the eastern side of downtown Atlanta; Strong maximum annual debt service (MADS) coverage of 2.9x based on fiscal 2015 tax-increment revenues
