• 1-800-526-8630U.S. (TOLL FREE)
  • 1-917-300-0470EAST COAST U.S.
  • +353-1-416-8900REST OF WORLD
Summary: California Statewide Comntys Dev Auth; Public Finance Structured, Guaranteed Invstmnt Contract/Invstmnt Agreement Jun 05 Product Image

Summary: California Statewide Comntys Dev Auth; Public Finance Structured, Guaranteed Invstmnt Contract/Invstmnt Agreement Jun 05

  • ID: 2045039
  • June 2005
  • Region: California
  • Standard & Poors

Abstract
Standard & Poors Ratings Services raised its rating to 'AA/A-1+' from 'AA-/A-1+' on the California Statewide Communities Development Authority's multifamily housing revenue bonds, series 2004 OO, issued for the Horizons at Indio project. The raised rating is based on the investment of funds in a guaranteed investment contract (GIC) provided by Transamerica Occidental Life Insurance Company ('AA/A-1+'), which will replace the GIC provided by the Royal Bank of Canada ('AA-/A-1+') acting through its New York City branch. In conjunction with this change, the escrow break date is being extended to Dec. 1, 2005. The bonds are subject to mandatory tender on the escrow break date. If there is a failed remarketing with respect to an escrow break date, bonds will...

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 READ MORE >

Note: Product cover images may vary from those shown

- California Statewide Communities Dev Auth

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown

RELATED PRODUCTS