NEW YORK–(BUSINESS WIRE)–#creditratingagency–KBRA assigns a long-term rating of AA to the City of Jacksonville, FL Special Revenue Bonds, Series 2025. Concurrently, the long-term rating of AA on the City’s outstanding Special Revenue Bonds is affirmed.
The long-term rating of AA is also affirmed on the City’s Special Revenue (BJP) Bonds, which are payable from Covenant Revenues and further payable from Infrastructure Sales Tax revenues available after satisfaction of the debt service and reserve account funding requirements of the City’s Better Jacksonville Bonds.
The Outlook on all bonds is Stable.
Key Credit Considerations
The ratings reflect the following credit considerations:
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Methodologies
Disclosures
A description of all substantially material sources that were used to prepare the credit rating and information on the methodology(ies) (inclusive of any material models and sensitivity analyses of the relevant key rating assumptions, as applicable) used in determining the credit rating is available in the Information Disclosure Form(s) located here.
Information on the meaning of each rating category can be located here.
Further disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above. Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at www.kbra.com.
About KBRA
Kroll Bond Rating Agency, LLC (KBRA), one of the major credit rating agencies (CRA), is a full-service CRA registered with the U.S. Securities and Exchange Commission as an NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a CRA with the UK Financial Conduct Authority. In addition, KBRA is designated as a Designated Rating Organization (DRO) by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized as a Qualified Rating Agency by Taiwan’s Financial Supervisory Commission and is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider (CRP) in the U.S.
Doc ID: 1010463
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Linda Vanderperre, Managing Director (Lead Analyst)
+1 646-731-2482
linda.vanderperre@kbra.com
Lina Santoro, Director
+1 646-731-1419
lina.santoro@kbra.com
Mallory Yu, Senior Analyst
+1 646-731-1380
mallory.yu@kbra.com
Douglas Kilcommons, Managing Director (Rating Committee Chair)
+1 646-731-3341
douglas.kilcommons@kbra.com
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