|
|
 |
|
Viewing report
|
|
|
|
Alabama Public School & College Authority's Outlook Revised To Stable Upon Agreement With JPMorgan Chase
Standard & Poors, Dec 2010
Abstract
DALLAS (Standard & Poor's) Dec. 23, 2010--Standard & Poor's Ratings Services revised its outlook to stable from negative on the Alabama Public School and College Authority?s existing debt based on the adoption and subsequent execution of a settlement agreement with JPMorgan Chase Bank. This follows a federal court ruling in a declaratory judgment action filed by the authority in October 2008 in connection with a dispute between the authority and JP Morgan Chase Bank involving various swap options entered into in 2002 and amended in 2003. On Dec. 21, 2010, the authority paid $19 million to JPMorgan Chase Bank and settled a swap termination dispute that could have potentially cost the authority as much as $122 million. 'We believe the...
Companies mentioned in this report are: Alabama Pub Sch & Coll Auth
Action: Affirmed
Action: Outlook: Stable
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.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
|
|
|
|
