Standard&Poor's Ratings Services has affirmed its 'A-' rating on Jeffersonville Redevelopment Commission, Ind.'s series 2013B and D tax-increment revenue bonds, issued on behalf of Jeffersonville. We also affirmed our 'BBB' rating on the commission's series 2013E bonds. The outlook on all ratings 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
