KBRA Releases Report Assigning AA- With a Stable Outlook to Miami-Dade County, Florida Aviation Revenue Refunding Bonds, Series 2019 C, D, & E

KBRA is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO.

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Provider: 
Business Wire, Inc.
Retrieved on: 
Thursday, August 8, 2019
Information
Tags: 
Insurance, Professional services, Finance, Money, Economy, Credit rating agencies, Nationally recognized statistical rating organization, Kroll Bond Rating Agency, Prospectus, Shelf registration, Bond credit rating, Asset-backed security, European Securities and Markets Authority, Security
Geotags: 
NEW YORK, United States
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Summary
Key Points: 
  • 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.


On August 7, 2019, Kroll Bond Rating Agency (KBRA) assigned a long-term rating of AA- with a Stable Outlook to Miami-Dade County, Florida: Aviation Revenue Refunding Bonds, Series 2019C (Non-AMT); Aviation Revenue Refunding Bonds, Series 2019D (Non-AMT); and, Aviation Revenue Refunding Bonds, Series 2019E (Taxable). KBRA additionally affirmed the long-term rating of AA- and Stable Outlook on the County’s outstanding Aviation Revenue Bonds.

Issuer: Miami-Dade County, Florida

Assigned

Rating

Outlook

Aviation Revenue Refunding Bonds, Series 2019C (Non-AMT)

AA-

Stable

Aviation Revenue Refunding Bonds, Series 2019D (Non-AMT)

AA-

Stable

Aviation Revenue Refunding Bonds, Series 2019E (Taxable)

AA-

Stable

Affirmed

Rating

Outlook

Aviation Revenue Bonds

AA-

Stable

The rating actions are based on KBRA’s U.S. General Airport Revenue Bond Rating Methodology. KBRA’s rating evaluation of the long-term credit quality of general airport revenue bonds focuses on the following six key rating determinants:

  • Management
  • Economics/Demographics of Service Area
  • Airport Utilization
  • Airport Debt/Capital Needs
  • Airport Finance
  • Legal Mechanics and Security Provisions

To access the report, click here.

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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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Copyright Business Wire 2019