Summary: El Paso County, Colorado YMCA of the Pikes Peak Region; Letter of Credit Jan 07
- ID: 2031224
- January 2007
- Region: Colorado
- Standard & Poors
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
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.
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.
SHOW LESS READ MORE >