|
|
 |
|
Viewing report
|
|
|
|
ACTS Retirement Life Communities Inc., Pennsylvania; Letter of Credit Aug 11
Standard & Poors, Aug 2011
Abstract
Standard & Poor's Ratings Services assigned its 'A-1' short-term rating to ACTS Retirement Life Communities Inc., Pa.'s commercial paper (CP) notes series 2011. The rating is based on an irrevocable direct draw letter of credit (LOC) provided by Bank of America N.A (A-1). The LOC, which expires on Dec. 30, 2011, provides for the payment of the principal amount of notes at maturity. The notes may be issued in maturities up to 270 days from date of issue. The notes will be issued on a discount basis and shall not bear stated interest. Note proceeds will be used for general corporate purposes. When evaluating the notes, Standard & Poor's considers various risk factors, as described below. The notes are structured...
Companies mentioned in this report are: ACTS Retirement Life Communities Inc
Action: New Rating
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: Full Analysis
|
|
|
|
