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Fitch Affirms Gainesville, FL's Non-Ad Valorem Rev Bonds at 'A+'; Outlook Stable.

Publication: Wireless News
Publication Date: 03-SEP-09
Format: Online
Delivery: Immediate Online Access
Full Article Title: Fitch Affirms Gainesville, FL's Non-Ad Valorem Rev Bonds at 'A+'; Outlook Stable.(Florida, United States)

Article Excerpt
In the course of routine surveillance, Fitch affirms Gainesville, Florida's (the city) approximately $129.5 million in non-ad valorem revenue secured bonds including $85.8 million in pension obligation bonds, $24.1 million in OPEB obligation bonds, and $19.6 million in capital improvement bonds at 'A+'.

The Outlook is Stable.

The 'A+' rating reflects the strong coverage provided by a diverse mix of non-ad valorem revenue sources from which the city covenants to budget and appropriate debt service (CB&A), a stable economy anchored in higher education, and consistent financial operations. Also...

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