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Bulletin: California Statewide Communities Development Authority (Monterey County) TRAN Rating Unchanged By Maturity Date Change Aug 10
Standard & Poors, Aug 2010
Abstract
NEW YORK (Standard & Poor's) Aug. 17, 2010--Standard & Poor's Ratings Services said today that a change to the maturity date of the California Statewide Communities Development Authority's series 2010A-10 (Monterey County) tax and revenue anticipation bonds (TRANs), does not affect the rating on the notes (SP-1+). Following the assignment of the rating, the maturity date on the notes was revised to April 29, 2011, from June 30, 2011, per a supplement to the official statement dated Aug. 13, 2010. Coverage at maturity, as projected by the county, measures 2.79x and the county projects additional fiscal year-end 2011 cash balances in other nongeneral fund sources (including restricted cash the county believes is available for interfund loans) at note maturity to...
Companies mentioned in this report are: California Statewide Communities Dev Auth,Monterey Cnty
Action: Bulletin
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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