S&P Clarifies Rating Downgrade On Pendleton County, KY's Series 1993 Bonds Feb 12
Standard & Poors, February 2012
Abstract
NEW YORK (Standard & Poor's) Feb. 3, 2012--Standard & Poor's Ratings Services lowered its long-term rating to 'B' on Pendleton County, Ky.'s (Kentucky Association of County's Leasing Trust Program) series 1993B bonds on Jan. 19, 2012 (please see "Pendleton County, Kentucky; Guaranteed Invstmnt Contract/Invstmnt Agreement," published Jan. 20, 2012, on RatingsDirect on the Global Credit Portal). This downgrade was an error correction, since this rating should have been lowered in July 2005 when the series 1993A bonds were redeemed and the security of the 1993B bonds shifted to solely a guaranteed investment contract (GIC) from both a county appropriation and a GIC.-...
Companies mentioned in this report are: Pendleton Cnty
Action: Affirmed
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Research type: News
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Pendleton Cnty
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