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Summary: Sonoma-Marin Area Rail Transit District, California Dec 11 Product Image

Summary: Sonoma-Marin Area Rail Transit District, California Dec 11

  • Published: December 2011
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services assigned its preliminary 'A-1+' short-term rating to Sonoma-Marin Area Rail Transit District, Calif.'s Measure Q sales tax revenue bonds series 2011A, based on our opinion of the sufficiency, liquidity, and credit quality of the escrowed collateral supporting the repayment of the bonds when the bonds are in the initial escrow period. The collateral is primarily composed of time deposit state and local series securities (time-deposit SLGS) issued by the U.S. Treasury and an initial cash deposit by the issuer. It is our understanding that the issuer will be considered a Chapter 9 filer under the U.S. bankruptcy code if they filed. The preliminary rating applies to the bonds until the initial period mandatory tender date,...

Companies mentioned in this report are: Sonoma Marin Area Rail Transit District
Action: New Rating

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Sonoma Marin Area Rail Transit District

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