|
|
 |
|
Viewing report
|
|
|
|
California Statewide Communities Dev Authority's 2002 Bonds Series A and B-1 Rated 'SP-1+' May 02
Standard & Poors, May 2002
Abstract
NEW YORK (Standard & Poor's) May 31, 2002--Standard & Poor's said it assigned its 'SP-1'-plus rating to California Statewide Communities Development Authority's $250 million tax and revenue anticipation bonds series 2002A and 2002B-1, reflecting the authority's overcollateralization of the bonds' par amount at a level of 10% ($28.2 million) to address the possibility of debt service deficiencies in the 49 participating local agencies' individual TRAN repayment accounts that secure the bonds. 'Standard & Poor's has determined that the 10% overcollateralization level is more than sufficient to cover any potential deficiencies among the participating borrowers,' said credit analyst Peter Murphy. Standard & Poor's evaluated the participants' historical and projected financial and liquidity positions, including the strength of their general funds and...
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.
|
|
|
|
