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Summary: Santa Clara County, CA Series 1994B Bonds Rating Lowered To 'AA/A-1'; General Obligation Mar 12 Product Image

Summary: Santa Clara County, CA Series 1994B Bonds Rating Lowered To 'AA/A-1'; General Obligation Mar 12

  • Published: March 2012
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services lowered its rating on Santa Clara County Financing Authority, Calif.'s (VNMC Facility Replacement Project) lease revenue bonds (Santa Clara County) series 1994B to 'AA/A-1' from 'AA/A-1+'. This action follows Standard Poor's Nov. 29, 2011, downgrade of its rating on JPMorgan Chase Bank N.A. to 'A+/A-1' from 'AA-/A-1+' (please see "Standard & Poor's Applies Its Revised Bank Criteria To 37 Of The Largest Rated Banks And Certain Subsidiaries," published Nov. 29, 2011, on RatingsDirect on the Global Credit Portal). The long-term component of the rating is based on the rating on Santa Clara County. The short-term component of the rating is based on the JPMorgan Chase Bank N.A. bank facility expiring Nov. 1, 2013. The stable...

Companies mentioned in this report are: Santa Clara Cnty,Santa Clara Cnty Fincg Auth
Action: Downgraded

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 READ MORE >

Santa Clara Cnty,Santa Clara Cnty Fincg Auth

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