S&P Corrects And Lowers Washington State Housing Finance Commission's Series 2006A Rating To 'A+/A-1' Sep 09
- ID: 1886270
- September 2009
- Region: Washington
- Standard & Poors
CHICAGO (Standard & Poor's) Sept. 29, 2009--Standard & Poor's Ratings Services corrected and lowered its rating on Washington State Housing Finance Commission 's (Merrill Gardens at Tacoma Project) series 2006A bonds to 'A+/A-1' from 'AA/A-1+'. Both the long-term and short-term components of this dual rating are based on a letter of credit provided by Bank of America N.A. (A+/A-1+). On March 3, 2009, we lowered our rating on Bank of America N.A., but due to an administrative error, did not contemporaneously lower the rating on these bonds....
Companies mentioned in this report are: Merrill Gardens,Washington State Housing Finance Commission
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