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Allegheny County Industrial Development Authority, Pennsylvania Longwood At Oakmont; Letter of Credit Dec 11
Standard & Poors, Dec 2011
Abstract
Standard & Poor's Ratings Services assigned its 'A/A-1' rating to Allegheny County Industrial Development Authority, Pa.'s variable-rate health care facilities revenue bonds series 2011A, issued on behalf of Longwood at Oakmont Inc. The 'A' long-term component of the rating is based on the irrevocable direct-pay letter of credit (LOC) provided by PNC Bank (A/A-1), and reflects our opinion of the likelihood that bondholders will receive interest and principal payments when due if they do not exercise the put option. The 'A-1' short-term component of the rating is based on the short-term issuer credit rating on the LOC provider, and reflects our opinion of the likelihood that bondholders will receive interest and principal payments if they exercise the put option. The...
Companies mentioned in this report are: Longwood at Oakmont,Allegheny Cnty Indl Dev Auth
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.
Research Type: Full Analysis
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