Summary: Orange County Local Transportation Authority, California; Letter of Credit Mar 12
Standard & Poors, March 2012
Abstract
Standard & Poor's Ratings Services affirmed its 'A-1' short-term rating on Orange County Local Transportation Authority, Calif.'s renewed measure m subordinate sales tax revenue commercial paper notes (limited-tax bonds) series A and B, due to the extension of the bank facility to Oct. 31, 2014. The short-term rating is based on a weak link between the letter of credit provided by JP Morgan Chase bank N.A. and Bank of America N.A. Criteria: Methodology And Assumptions: Approach To Evaluating Letter Of Credit-Supported Debt, July 6, 2009...
Companies mentioned in this report are: Orange Cnty Local Transp Auth
Action: Affirmed
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Orange Cnty Local Transp Auth
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