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American Legacy Foundation, DC Bonds Rated 'AAA/A-1' On Exceptional Liquidity Feb 08
Standard & Poors, Feb 2008
Abstract
NEW YORK (Standard & Poor's) Feb. 20, 2008--Standard & Poor's assigned its 'AAA/A-1' rating to District of Columbia's revenue bonds, series 2008, issued for American Legacy Foundation. The outlook is stable. 'We expect that the foundation will adhere to a 5% spending policy by 2010 as per management's plan, that the investment portfolio will continue to be well-managed and closely monitored; and that current liquidity levels will be maintained,' said Standard & Poor's credit analyst Bobbi Gajwani. The 'AAA' rating reflects the general obligation pledge of the foundation and is supported by an exceptional level of investments relative to operations and debt; budgetary flexibility, which will allow the foundation to adhere to a 5% spending policy as per plan; a...
Companies mentioned in this report are: American Legacy Foundation,District of Columbia
Action: New Rating
Action: Outlook: Stable
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.
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