|
|
Article: Fitch Rates Monroe County School District, Florida's $70MM Sales Tax Revs 'A+'.
- Article from:
- Business Wire
- Article date:
- May 4, 2005
CopyrightCOPYRIGHT 2005 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
NEW YORK -- Fitch Ratings has assigned an initial underlying 'A+' rating to the School District of Monroe County (the district), Florida's approximately $70,000,000 sales tax revenue bonds, series 2005. The rating is Fitch's first on the district's debt. Scheduled to sell via negotiation the week of May 16, the bonds are expected to be insured by an 'AAA' rated bond insurer. The Rating Outlook is Stable.
The 'A+' rating is based on the satisfactory coverage provided by pledged sales tax revenues, adequate legal protections for bondholders, consistently strong financial operations highlighted by high reserves levels and financial flexibility, and manageable ...