Summary: Poughkeepsie Industrial Development Agency, NY Series 2001 Bonds Rating Raised To 'AA-/A-1+'; Letter of Credit Mar 12

Standard & Poors, March 2012

Abstract
Standard & Poor's Ratings Services raised its rating on the Poughkeepsie Industrial Development Agency, N.Y.'s (Manor At Woodside) variable-rate senior living facilities revenue bonds series 2001 to 'AA-/A-1+' from 'A+/A-1', based on a substitute letter of credit (LOC) provided by TD Bank N.A. (AA-/A-1+). The LOC will provide payments for regularly scheduled principal and interest payments, as well as for unremarketed tendered bonds, for 49 days at 12% per annum. The anticipated expiration date of the LOC is March 1, 2014. The bonds are currently in the weekly rate mode, but may be converted to other modes. During the weekly rate mode, bondholders will be able to tender their bonds by providing requisite notice. Upon conversion to another mode, the...

Companies mentioned in this report are: Poughkeepsie Indl Dev Agy
Action: Upgraded

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.

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.

Poughkeepsie Indl Dev Agy

Customers who bought this item also bought

• 2012 America's Neighborhoods-Zip Code 11377 for Woodside, NY report
• IntelliNews - Bosnia and Herzegovina Country Report - Issue 3, 2013
• U.S. DoD 2012 Budget
• Indian Distance Learning Market Analysis
• The Future of the Biodefense Industry: Regulation, Funding Opportunities & Company Profiles
• Research on China’s K12 Tutoring Market, 2011-2015
• Environmental Changes: Organisational profile for the Department for Environment, Food and Rural Affairs
• Fund Governance: Legal Duties of Investment Company Directors.
• China Education and Training Industry Report, 2011-2012
• China Education and Training Industry Report, 2011-2012