S&P Corrects Orlando, FL, Wastewater System Series 2002 Revenue Bond Ratings To 'AA' May 10
Standard & Poors, May 2010
Abstract
NEW YORK (Standard & Poor's) May 5, 2010--Standard & Poor's Ratings Services has corrected by raising its long-term rating and its underlying rating (SPUR) on Orlando, Fla.'s wastewater system refunding revenue bonds, series 2002, to 'AA' from 'AA-'. The outlook is stable. A bond insurance policy from AMBAC Assurance Corp. (R/--/--) guarantees the bonds. According to Standard & Poor's criteria, the rating on a fully credit-enhanced bond issuance is the higher of the rating on the credit enhancer or the SPUR on the bonds. On Aug. 30, 2006, Standard & Poor's raised its SPUR on the city's wastewater revenue bonds to 'AA' from 'AA-' but due to an error did not contemporaneously raise its SPUR on the 2002 bonds. At...
Companies mentioned in this report are: Orlando
Action: Upgraded
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.
Orlando
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