Summary: RBC Municipal Products, Inc. Union County, New Jersey; Residual Certificates; Tender Option Certificates/Bonds Dec 11
- ID: 2033114
- December 2011
- Region: New Jersey
- Standard & Poors
Standard & Poor's Ratings Services has assigned its 'AA+/A-1+' rating to RBC Municipal Products Inc., floater certificates (STICs) series O-7, relating to Union County Utilities Authority Resource Recovery facility lease revenue refunding bonds (Covanta Union, Inc. lessee--series 2011A). The long-term component of the rating is based on 'AA+' rated, underlying bonds. The short-term component of the rating is based on a liquidity facility provided by Royal Bank of Canada (AA-/Stable/A-1+) until Dec. 15, 2012. In addition, Standard & Poor's assigned its 'AA+' rating to RBC Municipal Products, residual certificates (PUCs), series O-7, relating to Union County Utilities Authority Resource Recovery facility lease revenue refunding bonds (Covanta Union, Inc. lessee--series 2011A). The long-term component of the rating is based on 'AA+'...
Companies mentioned in this report are: Union Cnty,RBC Municipal Products, Inc.
Action: New Rating
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