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Summary: King County Housing Authority, WA Series 2007 Bonds Rating Lowered To 'A/A-1'; Letter of Credit Jan 12 Product Image

Summary: King County Housing Authority, WA Series 2007 Bonds Rating Lowered To 'A/A-1'; Letter of Credit Jan 12

  • Published: January 2012
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services lowered its rating on King County Housing Authority, Wash.'s (Salmon Creek Apartments) variable-rate demand revenue bonds series 2007 to 'A/A-1' from 'A+/A-1'. This action follows Standard Poor's Nov. 29, 2011, downgrade of its rating on Bank of America N.A. to 'A/A-1' from 'A+/A-1' (please see "Standard & Poor's Applies Its Revised Bank Criteria To 37 Of The Largest Rated Banks And Certain Subsidiaries," published Nov. 29, 2011, on RatingsDirect on the Global Credit Portal). The long-term and short-term components of the rating are based on the rating on the letter of credit provider, Bank of America N.A. with an expiration date of Dec. 8, 2014. Criteria: Methodology And Assumptions: Approach To Evaluating Letter Of Credit-Supported...

Companies mentioned in this report are: King Cnty Hsg Auth
Action: Downgraded

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King Cnty Hsg Auth

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