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Summary: El Paso County, Colorado YMCA of the Pikes Peak Region; Letter of Credit Jan 07 Product Image

Summary: El Paso County, Colorado YMCA of the Pikes Peak Region; Letter of Credit Jan 07

  • Published: January 2007
  • Region: Colorado
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services assigned its AA+/Watch Pos/A-1+ rating to El Paso County, Colo.'s variable-rate demand revenue bonds series 2006, issued for the Young Men's Christian Association (YMCA) of the Pikes Peak Region Project. The rating is based on a direct-pay LOC from Wells Fargo Bank N.A. (AA+/Watch Pos/A-1+). The LOC is sized to provide coverage for all principal and interest payments and for the purchase price on bonds that are not successfully tendered for a maximum of 45 days at 10% while bonds bear interest in the weekly, monthly, and quarterly interest rate modes. The bonds will be issued in the weekly interest rate and may be later converted to a monthly, quarterly, semiannual, annual, five-year, or fixed...

Companies mentioned in this report are: YMCA of the Pikes Peak Region,El Paso Cnty
Action: New Rating

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YMCA of the Pikes Peak Region,El Paso Cnty

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