Summary: Louisiana Local Government Environmental Facilities Comunity Development Authority St. Martin Parish; Appropriations; General Obligation

S&P Global Ratings assigned its 'AA' rating to the Louisiana Local Government Environmental Facilities Community Development Authority's (LCDA), La.'s series 2021 revenue refunding bonds (approximately $3.865 million) issued on behalf of St. Martin Parish. At the same time, S&P Global Ratings affirmed its 'AA' rating on the parish's general obligation (GO) and LCDA revenue bonds outstanding. The outlook is stable. St. Martin Parish is the obligor for the bonds, which are secured by the parish's lawfully available funds. The lawfully available funds do not include revenue from a dedicated ad valorem property tax, but do include other tax revenue, fees, charges, and other income that the parish collects. The fungibility of resources and the ability to manage those resources drive

...S&P Global Ratings assigned its '##' rating to the Louisiana Local Government Environmental Facilities Community Development Authority's (LCDA), La.'s series 2021 revenue refunding bonds (approximately $3.865 million) issued on behalf of St. Martin Parish. At the same time, S&P Global Ratings affirmed its '##' rating on the parish's general obligation (GO) and LCDA revenue bonds outstanding. The outlook is stable. St. Martin Parish is the obligor for the bonds, which are secured by the parish's lawfully available funds. The lawfully available funds do not include revenue from a dedicated ad valorem property tax, but do include other tax revenue, fees, charges, and other income that the parish collects. The fungibility of resources and the ability to manage those resources drive our view of the parish's ability and willingness to pay; therefore, we rate the bonds on par with our view of the parish's general creditworthiness. Bond proceeds will be used to refund the parish's series 2011 LCDA...

Summary