Standard & Poor's Ratings Services has affirmed its 'AA+/A-1+' rating on the Massachusetts Development Finance Agency's variable-rate revenue bonds series 2009 bonds, issued on behalf of Family Service Association of Greater Boston, based on the defeasance of bonds through the deposit of cash in an escrow fund on May 4, 2012. The bonds will be optionally redeemed in whole on May 21, 2012, at the redemption price of 100% plus accrued interest. The escrow agent is The Bank of New York Mellon Trust Co., N.A. Standard & Poor's has reviewed a verification report prepared by an accounting firm certifying that the cash and securities placed in escrow will produce the amounts necessary to provide for timely payment on the bonds,...
Companies mentioned in this report are:
- Family Svc Assoc of Greater Boston
- Massachusetts Development Finance Agency
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