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Summary: District Of Columbia; Insured Liquidity; Letter of Credit Dec 09 Product Image

Summary: District Of Columbia; Insured Liquidity; Letter of Credit Dec 09

  • Published: December 2009
  • Standard & Poors

Abstract
Standard & Poor's Rating Services raised its ratings on District of Columbia's series 2001D to 'AAA/A-1' from 'A/A-1', and its series 2002D and 2008C to 'AAA/A-1+' from 'A/A-1'. The ratings for all of the above mentioned series reflect the application of joint criteria (assuming low-correlation) and the substitution of the existing letter of credits (LOCs) provided by Dexia Credit Local (A/A-1) to LOCs provided by individual LOC providers. The application of joint criteria utilizes the 'A+' rating of the obligor, which is described below, and the substitute LOCs. The series 2001D bonds will now be enhanced by an LOC provided by Bank of America N.A. (A+/A-1). The series 2002D bonds will now be enhanced by an LOC provided by Wachovia...

Companies mentioned in this report are:
- District of Columbia

Action: Affirmed
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 READ MORE >

- District of Columbia

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