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Summary: Massachusetts Development Finance Agency Family Service Association Of Greater Boston; Letter of Credit May 12 Product Image

Summary: Massachusetts Development Finance Agency Family Service Association Of Greater Boston; Letter of Credit May 12

  • ID: 2127492
  • May 2012
  • Region: Massachusetts
  • Standard & Poors

Abstract
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

Action: Affirmed

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 READ MORE >

- Family Svc Assoc of Greater Boston
- Massachusetts Development Finance Agency

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