Youngsville, La.'s Series 2018 Sales Tax Bonds Assigned 'A+' Rating 30-Nov-2018 17:57 EST View Analyst Contact Information

CENTENNIAL (S&P Global Ratings) Nov. 30, 2018--S&P Global Ratings assigned its 
'A+' rating to the city of Youngsville, La.'s series 2018 sales tax bonds. The 
outlook is stable. 

"The stable outlook reflects our view of the very strong coverage base on the 
most recent full year of pledge revenue collections," said S&P Global Ratings 
credit analyst Alex Louie. "The city's rapid population growth and increase in 
sales tax revenues provide additional stability."

A first-lien pledge of revenue generated by a 1% sales and use tax collected 
by the city, originally authorized in 1981 and reauthorized in November of 
2012 and 2014, secures the bonds. The authorization designates 50% of the 
sales tax revenues for the costs of operating and maintain law enforcement 
facilities and paying police department employee salaries and benefits, and 
the other 50% for building works of public improvement, building fire 
protection and law enforcement facilities and paying fire and police 
department salaries and benefits. 

We rate the bonds under our priority-lien criteria, which factors in both the 
strength and stability of the pledged revenues, as well as the general credit 
quality of the municipality where taxes are distributed and collected (the 
obligor's creditworthiness, or OC).
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