Saturday, March 05, 2011

CA Gets A++ Bond Rating

Yesterday Fitch Ratings affirmed an A++ rating for the Columbia Associations $26.9 million senior secured bonds According to this report on CNBC, Fitch noted “Long-range planning efforts are strong, and CA has a solid history of achieving financial and capital development goals.”

Someone should buy a round of drinks for Susan Krabbe and her staff for that one.

“Financial operations and debt management remain credit strengths for CA.”

The report also credited the Columbia Town Center redevelopment for CA’s rosy economic outlook.

“KEY RATING DRIVERS: --Continued commercial and residential redevelopment that supports revenue growth; --Maintenance of sound financial results; --Continued adequate revenue-raising flexibility.
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