Summary: Clark County Airport Department of Aviation, Nevada Las Vegas McCarran International Airport; Airport Jul 08
- ID: 1795134
- July 2008
- Region: Global, Nevada
- Standard & Poors
Standard & Poor's Ratings Services lowered its rating on Clark County Airport Department of Aviation, Nev.'s airport system subordinate-lien revenue bonds series 2005A-1, issued for Las Vegas McCarran International Airport, to AA/Watch Neg/A-1 from AA/Watch Neg/A-1+. The downgrade is due to the substitution of the standby bond purchase agreement (SBPA) provided by Bayerishe Landesbank for a letter of credit (LOC) provided by Bayerishe Landesbank (A-1). The LOC became effective July 7, 2008. The LOC will only provide coverage for tenders and will not provide coverage for credit events; therefore, the long-term component of the rating of the bonds will remain the same as the rating of the bond insurer, MBIA. The substitute LOC provided by Bayerishe Landesbank will expire on...
Companies mentioned in this report are: Las Vegas McCarran Intl Arpt,Clark Cnty Arpt Dept of Aviation
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 >
Las Vegas McCarran Intl Arpt,Clark Cnty Arpt Dept of Aviation