CUSIP 681766CV1
- ISIN: US681766CV10
- Entity Name: City of Omaha Parking Facilities Corporation
- Sector: Municipal Agency
- Announcement Date: 07-Nov-2018
- Effective Date: *****
- Issue Date: *****
- Maturity Date: 01-Mar-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 ratings to `AA+` from `AA` on the Omaha Public Facilities Corp. (PFC), Neb.`s and the Omaha Parking Facilities Corp.`s existing lease revenue bonds, supported by the City of Omaha. We also assigned our `AA+` long-term rating to Omaha`s series 2018A special tax revenue redevelopment bonds and taxable series 2018B special tax redevelopment bonds. At the same time, we affirmed our `AA+` ratings on the city`s existing general obligation (GO) and special tax revenue bonds and our `AA+` rating on the Omaha-Douglas Public Building Commission`s debt outstanding. The outlook on all ratings is stable. The upgrade reflects the application of our ""Issue Credit Ratings Linked To U.S. Public Finance Obligors Creditworthiness"" criteria (published Jan. 22, 2018, on RatingsDirect). The rating on the existing PFC and parking facilities bonds reflects our opinion of the unconditional obligation to make rental payments from legally available funds. The city`s obligation is unconditional throughout the term of the lease and is not subject to abatement or annual renewal. Omaha is required to include appropriations for paying the annual lease-purchase obligations in its general fund budget. Its obligations under the lease-purchase agreements are a GO of the city and are payable from its general fund on the same basis as operating expenses and other contractual obligations. For these issues, we rate the debt on WWW.STANDARDANDPOORS.COM/RATINGSDIRECT NOVEMBER 1, 2018 2 par with our view of the obligor`s general creditworthiness as reflected in our rating on the unlimited-tax GO. The fungibility of resources and the ability to manage those resources determine our view of the obligor`s ability and willingness to pay
- Description: Municipal Name: City of Omaha Parking Facilities Corporation CUSIP: 681766CV1 Currency: USD City of Omaha Parking Facilities Corporation announced today that the Standard & Poor s Ratings has upgraded the ratings of the Series 2003B, Lease Revenue Bonds from AA to AA+.
- Bond Document: https://www.bondpdf.com/bonds/US681766CV10-05077
- Latest Corporate Actions: https://www.CAalerts.com/credit-corporate-action/ISIN/US681766CV10
