Standard&Poor's Ratings Services assigned its 'A-' rating and stable outlook to Jeffersonville Redevelopment Commission, Ind.'s series 2013C tax increment revenue bonds. At the same time, we affirmed the 'A-' rating on the commission's series 2013A bonds. The rating reflects our view of the tax increment financing (TIF) district's: Well-developed area within the city of Jeffersonville (A+/Stable); Zero volatility ratio due to Indiana's neutralization process that allows for base assessed valuation (AV) to adjust, indicating that AV changes will not cause magnified changes in tax-increment revenue; and Strong debt service coverage (DSC) from incremental property tax revenues. Partly offsetting these factors is the district's moderately high taxpayer concentration and permissive additional bonds test. The bonds are secured by TIF
