OREANDA-NEWS. S&P Global Ratings assigned its 'A-' long-term rating to Concordia Parish Sales Tax District No. 1, La.'s series 2016 sales tax refunding bonds. The outlook is stable.

"The rating reflects our opinion of the district's good projected maximum annual debt service coverage, fully cash-funded debt service reserve, and adequate additional bonds test," said S&P Global Ratings credit analyst Joshua Travis.

Officials will use series 2016 bond proceeds to refund the district's series 2007 bonds for net present value savings.

The stable outlook reflects our opinion that despite recent volatility, collections will provide good coverage over the near term given the mostly level amortization and the cash flow savings realized from the current refunding.