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Alabama Public School And College Authority Removed From CreditWatch Negative
Standard & Poors, April 2009
Abstract
NEW YORK (Standard & Poor's) April 28, 2009--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,' said Standard & Poor's credit analyst Sussan Corson. Standard & Poor's assigned a negative outlook to the...
Companies mentioned in this report are: Alabama Pub Sch & Coll Auth
Action: Affirmed
Action: Outlook: Negative
Action: Removed From CreditWatch
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.
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