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Summary: Alabama Public School And College Authority; Miscellaneous Tax Product Image

Summary: Alabama Public School And College Authority; Miscellaneous Tax

  • Published: April 2009
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services removed its 'AA' long-term rating and underlying rating (SPUR) on Alabama Public School and College Authority's capital improvement bond and capital outlay bond from CreditWatch with negative implications, where they were placed on March 27, 2009. The outlook is negative. We removed the rating from CreditWatch with negative implications based on our review of an opinion we received from the authority's counsel to the effect that the authority did not grant or intend to grant, as security for swap payments, a lien on any revenue pledged as security for the bonds. Standard & Poor's assigned a negative outlook to the bonds to reflect our uncertainty about a federal court ruling in a declaratory judgment action...

Companies mentioned in this report are: Alabama Pub Sch & Coll Auth
Action: Affirmed
Action: Outlook: Negative
Action: Removed From CreditWatch

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Alabama Pub Sch & Coll Auth

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