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Summary: California Statewide Comntys Dev Auth; Pf Structured, Guaranteed Invstmnt Contract/Invstmnt Agreement Aug 00 Product Image

Summary: California Statewide Comntys Dev Auth; Pf Structured, Guaranteed Invstmnt Contract/Invstmnt Agreement Aug 00

  • Published: August 2000
  • Region: California
  • Standard & Poors

Abstract
The rating on California Statewide Communities Development Authority's series 2000I-S bonds, issued on behalf of Ivy Hill Association L.P. (the "borrower"), is based upon a guaranteed investment contract (GIC) between the borrower and FGIC Capital Markets Services Inc. The General Electric Capital Corp. (rated 'AAA' by Standard & Poor's) guarantees the GIC. Bond proceeds will be invested in the GIC with a rate of earnings of 6.75%. The bonds are subject to one mandatory tender on Aug. 1, 2003. Bonds are also subject to an optional redemption between the termination of the lock-out period (during which no withdrawals from the GIC are permitted) and the mandatory tender date. The GIC terminates, as does the rating, on Aug. 1, 2003, and...

Companies mentioned in this report are:
- California Statewide Communities Dev Auth

Action: New Rating

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- California Statewide Communities Dev Auth

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