October 27, 2006

TCID’s Sales Tax & Hotel Occupancy Tax Revenue Bonds Series upgraded to A- rating by Standards and Poors

Frank Robinson, president of Town Center Improvement District (TCID), has recently announced that TCID’s Sales Tax and Hotel Occupancy Tax Revenue Bonds Series 2001 have been recently upgraded by Standards and Poor’s from a BBB+ rating to an A- rating.

            The bonds were issued to finance the building of the Convention Center, Sky Bridge, and Parking Garage at The Woodlands Town Center.

            The rating increase is a result of Standards and Poor’s recent a review of several sales tax based bonds, during which they generally revised their parameters for such classes of issuers which resulted in some upgrades of sales tax issuers.

            “This is great news and it is a testament to not only the sound fiscal management of the District by our board of directors, but also the overall positive economic vitality of The Woodlands Town Center area as a whole,” said Robinson.  

            Town Center Improvement District is a public entity committed to maintaining The Woodlands Town Center and surrounding area as the best place in which to live, shop, work and invest.