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CA Statewide Communities Development Auth Tax and Rev Antic Bnds Rtd 'SP-1+' Jun 00
Standard & Poors, June 2000
Abstract
NEW YORK (Standard & Poor's CreditWire) June 6, 2000-- Standard & Poor's today assigned its 'SP-1'-plus rating to California Statewide Communities Development Authority's $222.53 million 2000 tax and revenue anticipation bonds series A due June 29, 2001, $12.48 million bonds series B due Aug. 3, 2001, and $50.75 million bonds series C-1 due Oct. 4, 2001. The rating reflects overcollateralization of the bonds' par amount at a level of 10% ($28.6 million) to address the possibility of debt service deficiencies in the 74 participating local agencies' individual TRAN repayment accounts. Standard & Poor's has determined that the 10% overcollateralization level is more than sufficient to cover any potential deficiencies among the participating borrowers in the series A, B, and C-1...
Companies mentioned in this report are: California Statewide Communities 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: 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.
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