Summary: Ribco Trust Series 2006 FR-K76 And RI-K76 Ratings Lowered To 'AA+/A-1' And 'AA+'; Off Watch Negative; Residual Certificates; Tender Option Certificates/Bonds Sep 11
- Language: English
- Published: September 2011
Ribco Trust floating rate trust receipts (Floater-TRs) series 2007 FR/K72W are rated 'AAA/A-1'. The long-term component of the rating is based on the 'AAA' rated, Colorado Health Facilities Authority retirement housing revenue bonds (Liberty Heights Project), 1991 series B. The short-term component of the rating is based on a liquidity facility provided by Lehman Liquidity Co. LLC secured by a line of credit from Lehman Brothers Holdings Inc. expiring Nov. 1, 2008. The underlying bonds are zero coupon bonds and a schedule of periodic accretion and issuance is established whereby additional Floater-TRs will be issued in accordance with the accretion of the underlying bond. The proceeds from such issuance will be used to pay interest to the receipt holders. Should...
Companies mentioned in this report are: Liberty Heights,Colorado Hlth Fac Auth,Ribco Tr
Action: New Rating
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Liberty Heights,Colorado Hlth Fac Auth,Ribco Tr