Summary: South Dakota Conservancy District; State Revolving Funds/Pools Mar 08

  • ID: 2127423
  • March 2008
  • Region: South Dakota
  • Standard & Poors
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South Dakota Conservancy District's state revolving fund program bonds series 2008 have been rated 'AAA/A-1+'. The 'AAA' long-term component of the rating is based on the underlying rating (AAA/ Stable) on the conservancy district and represents the likelihood that the debt service will be repaid over the life of the issues. The 'A-1+' short-term component of the rating on the series 2008 bonds represents the likelihood of payment of tenders and reflects separate standby bond purchase agreements (SBPAs) provided by US Bank N.A. (AAA/A-1+). The SBPA will provide coverage for principal and 186 days' interest at the maximum rate of 10% for the purchase price of the bonds that are not successfully remarketed. The SBPA is scheduled to expire on...

Companies mentioned in this report are:
- South Dakota Conservancy Dist

Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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- South Dakota Conservancy Dist

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