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Missouri Health & Educational Facilities Authority Ranken Technical College; Joint Criteria Nov 11
Standard & Poors, November 2011
Standard & Poor's Ratings Services assigned its 'AAA/A-1+' rating to Missouri Health & Educational Facilities Authority's variable-rate demand educational facilities revenue bonds series 2011B, issued on behalf of Ranken Technical College. The 'AAA' long-term component of the rating is based on the application of joint criteria (assuming low correlation) between the irrevocable direct-pay letter of credit (LOC) provided by The Northern Trust Co. (AA/A-1+) and the rating on the obligor, and reflects our opinion of the likelihood that bondholders will receive interest and principal payments when due if they do not exercise the put option. The 'A-1+' short-term component of the rating is based on the short-term issuer credit rating on the LOC bank, and reflects our opinion of the...
Companies mentioned in this report are: Ranken Tech Coll,Missouri Hlth & Educl Facs Auth
Action: New Rating
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: Full Analysis
Ranken Tech Coll,Missouri Hlth & Educl Facs Auth