S&P - Public Finance Criteria (2007). - The Global Clearinghouse
S&P - Public Finance Criteria (2007). - The Global Clearinghouse
S&P - Public Finance Criteria (2007). - The Global Clearinghouse
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ContentsI. IntroductionIntroduction to <strong>Public</strong> <strong>Finance</strong> <strong>Criteria</strong> ................................................................................6II. Cross Sector <strong>Criteria</strong>Short-Term Debt ................................................................................................................11Commercial Paper, VRDO, And Self Liquidity ..................................................................17Bank Liquidity Facilities ....................................................................................................26Municipal Swaps ................................................................................................................29Debt Derivative Profile Scores ............................................................................................38Long-Term Municipal Pools ..............................................................................................43Investment Guidelines ........................................................................................................49Investment Agreements for Municipal Revenue Bond Financings ......................................53Joint Support To Investment Agreements ..........................................................................55Defeasance..........................................................................................................................57III. Tax-Secured DebtIntroduction to Tax-Secured Debt ......................................................................................60GO Debt ............................................................................................................................60Debt Statement Analysis ....................................................................................................66Special Tax Bonds ..............................................................................................................70Non Ad Valorem Bonds......................................................................................................75Lottery Revenue Bonds ......................................................................................................76Special-Purpose Districts ....................................................................................................78State Credit Enhancement Programs ..................................................................................86Appropriation-Backed Obligations ..................................................................................103Federal Leases ..................................................................................................................107Moral Obligation Bonds ..................................................................................................111IV. General Government UtilitiesWater and Sewer Ratings..................................................................................................113Electric Utility Ratings......................................................................................................121Solid Waste System Financings ........................................................................................127V. TransportationAirport Revenue Bonds ....................................................................................................131Stand-Alone Passenger Facility Charge Debt ....................................................................136Airport Multi-Tenant Special Facilities Bonds ..................................................................139Port Facilities Revenue Bonds ..........................................................................................142Toll Road and Bridge Revenue Bonds ..............................................................................145Mass Transit Bonds Secured by Farebox Revenues ..........................................................149Parking Revenue Bonds ....................................................................................................151