KBRA Assigns a Long-Term Rating of A with a Stable Outlook to the EDA of the City of Fredericksburg’s Rev. Bonds (Fredericksburg Stadium Project), Taxable Series 2019A

Kroll Bond Rating Agency (KBRA) assigns a long-term rating of A with a Stable Outlook to the Economic Development Authority of the City of Fredericksburgs Revenue Bonds (Fredericksburg Stadium Project), Taxable Series 2019A (City Use Revenues).

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Provider: 
Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Monday, June 24, 2019
Information
Tags: 
Finance, Banking, Professional services, Insurance, Finance, Economy, Money, Credit rating agencies, Kroll Bond Rating Agency, Bond, Abatement, Revenue bond, Fredericksburg, Virginia
Geotags: 
United States, NEW YORK
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Summary
Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns a long-term rating of A with a Stable Outlook to the Economic Development Authority of the City of Fredericksburgs Revenue Bonds (Fredericksburg Stadium Project), Taxable Series 2019A (City Use Revenues).
  • The revenue bonds will finance a portion of the costs of constructing and equipping a stadium to house a Washington Nationals affiliated minor league team, that will relocate from Prince William County.
  • The rating actions are based on KBRAs use of three methodologies U.S. State Annual Appropriation Obligation Rating Methodology , U.S. Local Government GO Methodology & U.S. State and Local Government Abatement Lease Rating Methodology .
  • Issuer: Economic Development Authority of the City of Fredericksburg, Virginia


Kroll Bond Rating Agency (KBRA) assigns a long-term rating of A with a Stable Outlook to the Economic Development Authority of the City of Fredericksburg’s Revenue Bonds (Fredericksburg Stadium Project), Taxable Series 2019A (City Use Revenues). The revenue bonds will finance a portion of the costs of constructing and equipping a stadium to house a Washington Nationals affiliated minor league team, that will relocate from Prince William County. The rating actions are based on KBRA’s use of three methodologies U.S. State Annual Appropriation Obligation Rating Methodology, U.S. Local Government GO Methodology & U.S. State and Local Government Abatement Lease Rating Methodology.

Issuer: Economic Development Authority of the City of Fredericksburg, Virginia

Assigned

Rating(s)

Outlook

Revenue Bonds (Fredericksburg Stadium Project),

Taxable Series 2019A (City Use Revenues)

A

Stable

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About KBRA and KBRA Europe

KBRA is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider and is a certified Credit Rating Agency (CRA) by the European Securities and Markets Authority (ESMA). Kroll Bond Rating Agency Europe Limited is registered with ESMA as a CRA.

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