- Language: English
- Published: July 2012
Summary: Jasper-Morgan-Newton-Walton Counties Joint Development Authority, Georgia; Insured Liquidity
- ID: 1784827
- February 2009
- Region: Georgia
- Standard & Poors
Standard & Poor's Ratings Services raised its rating on Jasper-Morgan-Newton-Walton Counties Joint Development Authority, Ga.'s taxable adjustable-rate revenue bonds series 1999 to 'AA-/A-1+' from 'A'. The 'AA-/A-1+' rating is based on a letter of credit (LOC) provided by Bank of America N.A. The prior 'A' rating was based on bond insurance provided by AMBAC and a standby bond purchase agreement (SBPA) with The Bank of New York Mellon. The bond insurance policy has been cancelled, and the trust indenture was amended and restated to provide for the delivery of the LOC. The LOC will be used to pay debt service on the bonds and is available for tenders if there are insufficient remarketing proceeds. The bonds will be in the...
Companies mentioned in this report are: Jasper-Morgan-Newton-Walton Cnties Jt Dev Auth
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
SHOW LESS READ MORE >
Jasper-Morgan-Newton-Walton Cnties Jt Dev Auth