Summary: Michigan State University Series 2000A-2 Bonds Rating Lowered To ?AA/A-1?; Public Coll/Univ - Unlimited Student Fees Jan 12
- Language: English
- Published: January 2012
- Region: Michigan
Standard & Poor's Ratings Services raised its rating on Massachusetts Bay Transportation Authority's series 2000A-1 bonds to 'AA+/A-1+' from 'AA+/A-1'. At the same time, Standard & Poor's assigned its 'AA+/A-1' to the authority's series 2000A-2 bonds. The outlook is stable. All rating actions are a result of a change in enhancement that occurred on Sept. 30 2011 (substitution date). Prior to the substitution date, there was only one series of bonds -- series 2000A -- which was supported by a standby bond purchase agreement (SBPA) provided by Dexia Credit Locale. As part of this restructuring, the bonds are being split into two equal series of $94 million each. There will be two separate series designations: series 2000A-1 and series 2000A-2....
Companies mentioned in this report are: Massachusetts,Massachusetts Bay Transp Auth
Action: Outlook: Stable
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Massachusetts,Massachusetts Bay Transp Auth