Summary: Atlanta; Tax Increment

S&P Global Ratings assigned its 'BBB' long-term rating to Atlanta's series 2017 tax allocation refunding bonds (Atlantic Station project). At the same time, we affirmed our 'BBB' underlying rating (SPUR) on the city's series 2007 parity bonds. The outlook is stable. The series 2017 bonds and parity debt are secured by a senior lien on tax increment levies on real and personal property in the tax allocation district by the county, city, and Atlanta Public Schools. Proceeds from the sale of the 2017 bonds will refund all of the 2007 bonds outstanding as well as a portion of the 2006 bonds. The 2006 bonds that remain outstanding following the refunding are legally subordinate to the 2017 bonds. S&P Global Ratings

...S&P Global Ratings assigned its '###' long-term rating to Atlanta's series 2017 tax allocation refunding bonds (Atlantic Station project). At the same time, we affirmed our '###' underlying rating (SPUR) on the city's series 2007 parity bonds. The outlook is stable. The series 2017 bonds and parity debt are secured by a senior lien on tax increment levies on real and personal property in the tax allocation district by the county, city, and Atlanta Public Schools. Proceeds from the sale of the 2017 bonds will refund all of the 2007 bonds outstanding as well as a portion of the 2006 bonds. The 2006 bonds that remain outstanding following the refunding are legally subordinate to the 2017 bonds. S&P Global Ratings does not maintain a rating on the 2006 bonds. The rating reflects our assessment of the tax allocation district's:...

Summary