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California Statewide Communities Development Authority's Tax & Rev Antic Bonds Rated `SP-1+' Jun 99
Standard & Poors, June 1999
Abstract
NEW YORK (Standard & Poor's CreditWire) June 7, 1999--Standard & Poor's today assigned its 'SP-1'-plus rating to California Statewide Communities Development Authority's $193.42 million 1999 tax and revenue anticipation bonds series A-1 dated July 1, 1999, due June 30, 2000; $19.52 million 1999 tax and revenue anticipation bonds series B dated July 1, 1999, due July 28, 2000; and $92.39 million 1999 tax and revenue anticipation bonds series C-1 dated July 1, 1999, due Sept. 29, 2000. The bonds are scheduled to sell June 8, 1999. The rating on series A-1, B, and C-1 tax and revenue anticipation bonds reflects the overcollateralization of the bonds' par amount at a level of 10% ($30.5 million) to address the possibility of debt...
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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