• ISIN: US54465ABY73
  • Entity Name: County of Los Angeles Redevelopment Refunding Authority
  • Sector: Municipal Agency
  • Announcement Date: 12-Sep-2018
  • Effective Date: *****
  • Issue Date: *****
  • Maturity Date: 01-Sep-2033
  • Country of Issuer: United States
  • Region: N.Amer
  • Issue Currency: United States of America Dollars
  • CA Type: Rating Upgrade
  • News: S&P Global Ratings raised its long-term rating to `A` from `A-` on Lynwood Redevelopment Agency, Calif.`s subordinate series 2011A tax allocation bonds issued for Project Area A and the Successor Agency to the Lynwood Redevelopment Agency. The outlook is stable. The rating action reflects our view of the continued growth in Project Area A, resulting in stronger coverage levels and a lower volatility ratio. The series 2011A bonds are secured by a subordinate lien on tax increment revenue, net of certain passthroughs and housing set-aside payments. The series 2011A bonds are subordinate to the agency`s outstanding senior-lien series 1999A and 1999B bonds, although we note that both of these series 1999 bonds have been fully defeased. We note that coverage calculations in the following report also include the series 2013A local obligation bonds that are on parity with the series 2011A bonds. A cash-funded debt service reserve fund equal to the bonds` MADS is held with the trustee and provides additional security to the bonds, in our view.
  • Description: Municipal Name: County of Los Angeles Redevelopment Refunding Authority CUSIP: 54465ABY7 Currency: USD County of Los Angeles Redevelopment Refunding Authority announced today that the Standard & Poor`s Rating has upgraded the long-term ratings of the Series 2013D, Tax Allocation Revenue Refunding Bonds from A to A-.
  • Bond Document:
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