Professional :: Formatted Text In Text Area Component?

I am trying to display an HTML formated file in the text Area.It should be straightforward task using the following code:

//----------load text file------------------
var loader1:URLLoader =new URLLoader();loader1.addEventListener(Event.COMPLETE,displayText);[code].....

This uses a text area component dragged to stage and named myCV_TA. No text is displayed with that code.It does work when an ordinary text is used and myCV_TA.html/text is changed to myCV_TA.text.Tried many things and decided to live with the simple text file and apply some formating to it://----create textformat object

var mytextformat:TextFormat = new TextFormat();mytextformat.font = "verdana";mytextformat.size = 16;mytextformat.color = 0x006600;[code]....

This code does not apply any formating, the simple text file is displayed but without any formating .