OREANDA-NEWS. S&P Global Ratings assigned its 'A' long-term rating to the California Municipal Finance Authority's series 2016 local Measure A sales tax revenue certificates of participation, or COPs (T. R.I. P. - Total Road Improvement Program), issued on behalf of JurupaValley, Calif. The outlook is stable.

"The rating reflects our view of the pledged revenue stream, which is derived from collections in much larger geographic areas than the city but is distributed predominantly on the basis of slow-to-change local factors, such as population, and the city's adequate 1.5x maximum annual debt service coverage and 1.5x additional bonds test," said S&P Global Ratings credit analyst Benjamin Geare.

Proceeds of the series 2016 COPs will fund certain acquisitions, construction, and improvement of certain local roadway improvements and street resurfacing projects within the city.