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Summary: Massachusetts; General Obligation, State GO; Public Finance Structured, Liquidity Facility Dec 00 Product Image

Summary: Massachusetts; General Obligation, State GO; Public Finance Structured, Liquidity Facility Dec 00

  • ID: 1804306
  • December 2000
  • Region: Massachusetts
  • Standard & Poors

Abstract
Massachusetts' full faith and credit GO pledge secures all six series of bonds. Liquidity support for principal only on the series A variable-rate demand bonds is provided by a Landesbank Baden-Wurtemberg ('AAA'/'A-1+') SBPA. Liquidity support for principal only on the series B variable-rate demand bonds is provided by a Toronto Dominion Bank ('AA-'/'A-1+') SBPA. The SBPAs provide principal-only coverage for unremarketed tendered bonds. The commonwealth is obligated to make timely interest payments for unremarketed tendered bonds. The series D-G bonds will be issued in auction-rate modes. The various modes are: One day, seven days, 28 days, 35 days, three months, six months, and a special auction period that is no less than seven days but no more than 1,092 days....

Companies mentioned in this report are:
- Massachusetts

Action: New Rating

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- Massachusetts

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Note: Product cover images may vary from those shown

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