Summary: California Statewide Communities Development Authority; Escrow; Freddie Mac Direct Pay Dec 11
- Language: English
- Published: December 2011
- Region: California
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Research type: News
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NEW YORK (Standard & Poor's) April 28, 2011--Standard & Poor's Ratings Services today affirmed its 'A-1+' short-term ratings on New York Liberty Development Corp.'s $2,574,875,000 multimodal revenue bonds series 2009A-1 and 2009A-2 (for the World Trade Center project) due Dec. 1, 2049. The 'A-1+' ratings are based on our opinion of the sufficiency, liquidity, and credit quality of the escrowed collateral, which consists primarily of demand-deposit state and local government series securities (demand-deposit SLGS) issued by the U.S. Treasury. Today's rating actions follow the remarketing of the bonds with a new scheduled mandatory tender date of Nov. 1, 2011. The series 2009A-1 and 2009A-2 bonds resulted from the series 2009A bonds that were originally issued on Dec. 30, 2009. The...
Companies mentioned in this report are: New York Liberty Development Corporation