Summary: Ogden City Redevelopment Agency, UT Series 2009A, 2009B-1, And 2009B-2 Bonds Ratings Lowered To 'AA-/A-1+'; Letter of Credit Jan 12

Standard & Poors, January 2012

Abstract
Standard & Poor's Ratings Services lowered its rating on Ogden City Redevelopment Agency, Utah's variable-rate revenue refunding bonds series 2009A, 2009B-1, and 2009B-2 to 'AA-/A-1+' from 'AA/A-1+'. This action follows Standard Poor's Nov. 29, 2011, downgrade of its rating on Wells Fargo Bank N.A. to 'AA-/A-1+' from 'AA/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, Wells Fargo Bank N.A., with an expiration date of March 28, 2012. Criteria: Methodology And Assumptions: Approach To Evaluating Letter Of Credit-Supported...

Companies mentioned in this report are: Ogden City Redev Agy
Action: Downgraded

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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

Ogden City Redev Agy

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