Various Ratings On Pacific Beacon LLC, CA Bonds Lowered On Lower-Than Expected Coverage Dec 11
Standard & Poors, December 2011
Abstract
SAN FRANCISCO (Standard & Poor's) Dec. 28, 2011--Standard & Poor's Ratings Services affirmed its 'AA (sf)' underlying rating (SPUR) on Pacific Beacon LLC, Calif.'s class I military housing taxable revenue bonds, series 2006A, lowered its SPUR on Pacific Beacon LLC's class II military housing taxable revenue bonds, series 2006A, to 'A+ (sf)' from 'AA- (sf)' , and lowered its SPUR on Pacific Beacon LLC's class III military housing taxable revenue bonds, series 2006A, to 'BBB- (sf)' from 'A- (sf)', all issued for the Naval Base San Diego Unaccompanied Housing Project. Standard & Poor's also lowered its long-term rating on the class III bonds to 'BBB (sf)' from 'A- (sf)', based on the bond insurance policy with National Public Finance Guaranty...
Companies mentioned in this report are: Pacific Beacon LLC
Action: Affirmed
Action: Downgraded
Action: Outlook: Developing
Action: Outlook: Stable
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.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Pacific Beacon LLC
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