|
|
 |
|
Viewing report
|
|
|
|
American Legacy Foundation, DC Series 2008 Bond Rating Revised To 'AAA/A-1+' On Adequacy Of Liquidity Sep 09
Standard & Poors, Sep 2009
Abstract
NEW YORK (Standard & Poor's) Aug. 31, 2009--Standard & Poor's Ratings Services revised its dual rating on District of Columbia's series 2008 revenue bonds, issued for American Legacy Foundation, to 'AAA/A-1+' from 'AAA/A-2'. The rating revision is due to the replacement of liquidity support provided for the variable-rate demand bonds (VRDBs) to self-liquidity from a standby bond purchase agreement (SBPA). The previous short-term component of the rating was based on the SBPA provider. The conversion date of the bonds is Sept. 1, 2009. The 'A-1+' short-term component of the rating reflects the adequate liquidity and sufficiency of the assets pledged by the foundation to guarantee the full and timely purchase of any failed remarketing of the series 2008 VRDBs. The...
Companies mentioned in this report are: American Legacy Foundation,District of Columbia
Action: Outlook: Stable
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.
|
|
|
|
