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Fitch Affirms Newman Redevelopment Agency, CA's TABs at 'BBB+'; Outlook Stable

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NEW YORK--(BUSINESS WIRE)--Fitch Ratings has affirmed the following tax allocation bonds (TABs) for Newman Redevelopment Agency, California (the RDA): --$2 million TABs, series 1997, at 'BBB+'. The Rating Outlook is Stable. SECURITY The bonds are backed by a senior lien on redevelopment project area tax increment revenues above the 1993 base year collected within the sole project area, and includes the 20% set-aside for low and moderate income housing. Additionally, the bonds are secured by a c

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