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

NEW YORK--()--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.

Contacts

Analytical:
Harvey Zachem, Managing Director
(646) 731-2385
hzachem@kbra.com

Justin Schneider, Senior Analyst
(646) 731-2453
jschneider@kbra.com

Karen Daly, Senior Managing Director
(646) 731-2347
kdaly@kbra.com

Contacts

Analytical:
Harvey Zachem, Managing Director
(646) 731-2385
hzachem@kbra.com

Justin Schneider, Senior Analyst
(646) 731-2453
jschneider@kbra.com

Karen Daly, Senior Managing Director
(646) 731-2347
kdaly@kbra.com