CUSIP 54465ACW0
- ISIN: US54465ACW09
- 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-2024
- 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 `BBB+` from `BBB` on the Los Angeles County Redevelopment Refunding Authority (CLARRA), Calif.`s series 2013F tax allocation revenue refunding bonds (TARRBs), issued on behalf of the Successor Agency (SA) to the Lynwood Redevelopment Agency. The outlook is stable. The rating action reflects our view of the continued growth in the Alameda Project Area, resulting in stronger coverage levels and a lower volatility ratio. Payments on the series 2013A local obligation bonds issued by the successor agency (SA) to the redevelopment agency (RDA) for its Alameda Project Area secure the authority`s 2013F bonds. The series 2013A local obligation bonds are secured by pledged tax-increment revenue attributable to the Alameda Project Area, net of former housing set-aside revenue and net of certain pass-through and administrative payments. Los Angeles County created the CLARRA to assist SAs within the county with refunding their tax allocation bonds under the dissolution law. Under the program, SA participants issue tax allocation refunding bonds (local obligations), which the CLARRA purchased with proceeds of the series 2013F TARRBs. The CLARRA TARRBs are secured by payments on the Lynwood SA`s series 2013A local obligation bond received by the authority structured to 1.0x authority debt service. For Bond Document please visit www.BondPDF.com
- Description: Municipal Name: County of Los Angeles Redevelopment Refunding Authority CUSIP: 54465ACW0 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 2013F, Tax Allocation Revenue Refunding Bonds from BBB to BBB+.
- Bond Document: https://www.bondpdf.com/
- Latest Corporate Actions: https://www.CAalerts.com/credit-corporate-action/ISIN/US54465ACW09
