• +353-1-416-8900(GMT OFFICE HOURS)
  • 1-800-526-8630(US/CAN TOLL FREE)
  • 1-917-300-0470(EST OFFICE HOURS)
Summary: District of Columbia; Insured Liquidity Nov 07 Product Image

Summary: District of Columbia; Insured Liquidity Nov 07

  • Published: November 2007
  • Standard & Poors

Standard & Poor's Ratings Services affirmed its 'AAA/A-1+' rating on District of Columbia's general obligation variable refunding rate bonds series 2002D based on the substitution of a SBPA from Dexia Crédit Local (AA/A-1+) for an existing SBPA from Bank of America (AA+/A-1+) on Oct. 31, 2007. The long-term component of the rating on the bonds continues to be based on a bond insurance policy provided by MBIA (AAA). The substituted SBPA shall provide for principal of and interest on the bonds that bear interest only in the daily and weekly rate modes. The SBPA shall provide coverage for 34 days of interest at maximum annual rate of 10%. The SBPA will automatically terminate upon the occurrence of certain events, including,...

Companies mentioned in this report are:
- District of Columbia

Action: Affirmed

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, READ MORE >

- District of Columbia

Note: Product cover images may vary from those shown