NEW YORK (Standard & Poor's) June 4, 2009--Standard & Poor's Ratings Services assigned its 'AA' long-term rating and underlying rating (SPUR) on Alabama Public School and College Authority's series 2009A and B capital improvement and capital improvement refunding bonds, in the amount of $323.705 million. At the same time, Standard & Poor's affirmed its 'AA' long-term rating on the authority's capital improvement and capital outlay bonds outstanding. The outlook is negative. Standard & Poor's assigned a negative outlook to the bonds to reflect our uncertainty about a federal court ruling in a declaratory judgment action filed by the authority on Oct. 28, 2008, in connection with a dispute between the authority and JP Morgan Chase Bank N.A. (AA-/Negative Outlook/A-1+) involving...
Companies mentioned in this report are:
- Alabama Pub Sch & Coll Auth
Action: New Rating
Action: Outlook: Negative
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