- Published: December 2013
- Region: Global
Summary: Ribco Tr, NY Apr 99
- Published: April 1999
- Region: New York
- Standard & Poors
The long-term rating on RIBCO Trust, N.Y.'s series 1999 A-1 floating rate trust receipts is based on the rating of the underlying MBIA insured bonds. The short-term rating is based on a SBPA provided by Commerzbank, A.G. acting through its New York branch. The SBPA, which expires on April 7, 2000 unless earlier terminated pursuant to its terms, will cover purchase price of tendered but unremarketed bonds. The subscript 'c' appearing in the rating indicates that the receipt holder's option to tender the security for purchase may be canceled under certain prestated conditions enumerated in the tender option documents. The long-term rating on RIBCO Trust's series 1999 A-1 residual interest trust receipts is based on the rating of the underlying...
Companies mentioned in this report are: Ribco Tr
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