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Bay Area Toll Authority, CA's Subordinate-Lien Revenue Bonds Assigned 'A+' Rating Oct 10
Standard & Poors, Oct 2010
Abstract
SAN FRANCISCO (Standard & Poor's) Oct. 13, 2010--Standard & Poor's Ratings Services assigned its 'A+' long-term rating to the Bay Area Toll Authority (BATA), Calif.'s subordinate-lien toll bridge revenue bonds, series 2010S-2 and series 2010S-3 (the latter are Build America Bonds, or BABs). At the same time, Standard & Poor's affirmed its 'AA' long-term rating on BATA's outstanding senior-lien toll bridge revenue bonds. Additionally, Standard & Poor's affirmed its 'A+' long-term rating and underlying rating (SPUR) on BATA's outstanding subordinate-lien toll bridge revenue bonds. 'The rating on the subordinate-lien bonds is based on our view of the subordinate nature of the bonds, a more permissive additional bonds test as compared with that for the senior-lien bonds, our projections of significantly...
Companies mentioned in this report are: Bay Area Toll Auth
Action: Affirmed
Action: New Rating
Action: Outlook: Stable
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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