The District is pleased to announce that as a part of their planned bond issuance for the Town Center project, it has been given a rating of AA- according to S&P Global Ratings. This primarily due to: continued expansion and diversification of the district area; a very strong audited sales tax collections through 2017 and debt service coverage (DSC) at 3.5x MADS; The raters view that nationwide sales tax revenue collections have exhibited relatively low volatility with no history of significant volatility at the local level; and the district’s general creditworthiness partially offsets the above credit strengths of the sales tax bond structure.
