Standard&Poor's Ratings Services has affirmed its 'A-' rating on Jeffersonville Redevelopment Commission, Ind.'s series 2013B and D tax-increment revenue bonds. We also affirmed our 'BBB' rating on the commission's series 2013E bonds. The outlook on all the bonds is stable. The rating reflects our view of: The tax-increment financing (TIF) district's well-developed area in the city of Jeffersonville; 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; A fully funded debt service reserve (DSR); and Strong debt service coverage (DSC) from incremental property tax revenues. Partly offsetting these factors are moderate taxpayer concentration for the series 2013B and D bonds, high concentration for
