OREANDA-NEWS. S&P Global Ratings Services assigned its 'A-' long-term rating to Seven Oaks Community Development District (CDD), Fla.'s 2016B-1 senior special assessment revenue refunding bonds. The outlook is stable.

"The 'A-' rating on the bonds incorporates our view of the assessment area's strong overall value-to-lien ratio, the senior-lien bonds' very strong cash flows, and the district's inclusion in the broad and diverse Tampa metropolitan statistical area," said S&P Global Ratings credit analyst Randy Layman.

The 2016B bond proceeds will be used to refund all of the district's outstanding series 2004A special assessment bonds. The 2016B-1 bonds carry a senior-lien position with respect to the 2016B-2 bonds (unrated) on assessments levied for debt service.

The stable outlook reflects S&P Global Ratings' opinion that special assessment collections will likely remain sufficient to pay debt service over the two-year outlook horizon.