Summary: District of Columbia, DC; Pf Structured, Insured Liquidity Jan 00
- ID: 1930484
- January 2000
- Standard & Poors
The long-term ratings assigned to District of Columbia's bonds, issued on behalf of George Washington University, are based on bond insurance policies provided by MBIA and the short-term ratings are based on a standby bond purchase agreement provided by Bank of America N.A. The standby bond purchase agreements, which expire on Dec. 1, 2004, provide coverage for unremarketed bonds and up to 35 days of interest at the maximum bond rate. The bonds initially will bear interest at a weekly floating rate but upon mandatory tender may be converted to a commercial paper rate period of up to 270 days, which pays interest on the first business day following the last day of the period. Upon conversion to fixed-rate period,...
Companies mentioned in this report are:
- District of Columbia
Action: New Rating
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