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Article: Blythe Redevelopment Agency, CA's Bonds Rated BBB by S&P
- Article from:
- PR Newswire
- Article date:
- November 10, 1997
CopyrightCOPYRIGHT 1997 PR Newswire Association LLC. 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)
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NEW YORK, Nov. 10 /PRNewswire/ -- Standard & Poor's assigned its triple- 'B' rating to Blythe Redevelopment Agency, Calif.'s tax allocation refunding bonds (Redevelopment Project No. 1) series 1997 due May 1, 2028.
In addition, Standard & Poor's affirmed its triple-'B' rating on the agency's tax allocation bonds (Redevelopment Project No. 1) series 1994A and B and 1996A-C.
The rating reflects:
-- A shallow, but growing, local economic base and low wealth levels;
-- A large project area with moderate taxpayer concentration; and
-- Good coverage with an adequate additional bonds test.
The bonds are on ...