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Miami Dade County Industrial Development Authority Series 1998A Bond Rating Lowered To 'A/A-1' Feb 12 Product Image

Miami Dade County Industrial Development Authority Series 1998A Bond Rating Lowered To 'A/A-1' Feb 12

  • ID: 2052959
  • February 2012
  • Standard & Poors

Abstract
NEW YORK (Standard & Poor's) Feb. 8, 2012--Standard & Poor's Ratings Services today lowered its rating on Miami Dade County Industrial Development Authority's $10 million variable-rate demand revenue bonds series 1998A due April 1, 2030, to 'A/A-1' from 'A+/A-1'. At the same time, we removed the rating from CreditWatch with negative implications, where we had placed it on Jan. 13, 2012. Our rating on the series 1998A bonds reflects our opinion of the credit and liquidity support that Credit Agricole Corporate and Investment Bank ('A/A-1') provides in the form of an irrevocable direct-pay letter of credit (LOC). The long-term component of our rating on the bonds is based on our long-term issuer credit rating on Credit Agricole Corporate and Investment...

Companies mentioned in this report are: Miami Dade Cnty Indl Dev Auth
Action: Downgraded
Action: Removed From CreditWatch

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 key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

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