Standard & Poor's Ratings Services assigned its 'BBB-' long-term rating to California Statewide Communities Development Authority's series 2010 fixed-rate revenue and refunding bonds. At the same time, Standard & Poor's affirmed its 'BBB-' underlying rating (SPUR) on the authority's series 2006 variable-rate demand bonds, and its 'BBB-' long-term rating on the Association of Bay Area Governments Finance Authority for Nonprofit Corporations' series 1997A and taxable series 1997B revenue refunding certificates of participation (COPs). The bonds were issued for American Baptist Homes of the West (ABHOW). We understand that series 2010 bonds will fully refund ABHOW's series 1997A and B, 1998B, and 2002A bonds, and will provide $20 million of new project funds. Upon refunding, the ratings on the refunded bonds...
Companies mentioned in this report are:
- American Baptist Homes of the West
- California Statewide Communities Dev Auth
- ABAG Fin Auth For Nonprofit Corps
Action: New Rating
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