CUSIP 696638BF1
- ISIN: US696638BF15
- Entity Name: Palm Glades Community Development District
- Sector: Municipal Agency
- Announcement Date: 13-Aug-2018
- Effective Date: 02-Apr-2018
- Issue Date: *****
- Maturity Date: 01-Nov-2038
- 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 BBB` on Palm Glades Community Development District (CDD), Fla.`s series 2018A-1 and 2016 special assessment bonds The outlook is stable. The rating action reflects the application of our updated methodology for assessing special assessment debt, published on RatingsDirect on April 2, 2018. Non-ad valorem special debt assessments on Palm Glades CDD properties secure the bonds; Broward County will collect the assessments on the district`s behalf through the state`s uniform method of collection. The `A` rating reflects our view of the series 2018A-1 bonds assessment area`s following factors and analytical considerations: Adequate district economic fundamentals, characterized by adequate incomes, significant historical real estate volatility; and participation in the broad and diverse Miami-Fort Lauderdale-West Palm Beach metropolitan statistical area (MSA); Adequate district characteristics with relatively low taxpayer concentration, adequate district size, and mature development status; and Adequate financial profile, characterized by 1.2x coverage of the senior lien debt service, limited revenue-raising capacity; and the ability to withstand the loss of the top 10 taxpayers while still being able to meet debt service.
- Description: Municipal Name: Palm Glades Community Development District CUSIP: 696638BF1 Currency: USD Palm Glades Community Development District announced today that the Standard & Poor`s Rating has upgraded the long-term ratings of the Series 2018A-1, Senior Special Assessment Bonds from BBB to A on April 2, 2018.
- Bond Document: https://www.bondpdf.com/
- Latest Corporate Actions: https://www.CAalerts.com/credit-corporate-action/ISIN/US696638BF15
