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California Statewide Communities Development Authority Bonds Series 2006 (Gateway Circle LLC) Rating Raised To 'A+/A-1' Sep 09
Standard & Poors, Sep 2009
Abstract
NEW YORK (Standard & Poor's) Sept. 25, 2009--Standard & Poor's Ratings Services today raised its rating on California Statewide Communities Development Authority's $5 million industrial development revenue bonds series 2006 (for the Gateway Circle LLC project) due May 1, 2026, to 'A+/A-1' from 'A-/A-2'. The long- and short-term components of our rating on the series 2006 bonds are based on our long- and short-term issuer credit ratings on Citibank N.A. New York, NY (Citibank; 'A+/A-1') and address the full and timely payment of the bonds' regularly scheduled interest, principal, and purchase price upon an optional or mandatory tender, according to the transaction's terms. Citibank provides credit and liquidity support for the bonds in the form of a letter of credit...
Companies mentioned in this report are: California Statewide Communities Dev Auth
Action: Upgraded
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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