Summary: Ana G. Mendez University System Inc., Puerto Rico Series 1998 Bonds Rating Lowered To ?A+/A-1?; Letter of Credit Dec 11
Standard & Poors, December 2011
Abstract
Standard & Poor's Ratings Services lowered its rating on Puerto Rico Industrial, Tourist, Educational, Medical, and Environmental Control Facilities Financing Authority's higher education revenue bonds series 1998, issued for Ana G. Mendez University System Inc. Project, to 'A+/A-1' from 'AA-/A-1+'. This action follows Standard Poor's Nov. 29, 2011, downgrade of its rating on Banco Bilbao Vizcaya Argentaria S.A. to 'A+/A-1' from 'AA-/A-1+' (see "Standard & Poor's Applies Its Revised Bank Criteria To 37 Of The Largest Rated Banks And Certain Subsidiaries," published Nov. 29, 2011, on RatingsDirect on the Global Credit Portal). The long-term and short-term components of the rating are based on the letter of credit support provided by Banco Bilbao Vizcaya Argentaria S.A. Criteria: Methodology And Assumptions: Approach...
Companies mentioned in this report are: Ana G. Mendez Univ Sys Inc.,Puerto Rico Indl Tour Ed Med & Environ Ctrl Fac Fin Auth
Action: Downgraded
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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
Ana G. Mendez Univ Sys Inc.,Puerto Rico Indl Tour Ed Med & Environ Ctrl Fac Fin Auth
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