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S&P Credit Research885 word report
published Nov 03, 2009
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S&P Credit Research
| Abstract: | SAN FRANCISCO (Standard&Poor's) Nov. 3, 2009--Standard&Poor's Ratings Services revised its rating on Alaska Industrial Development and Export Authority's revolving fund refunding bonds, series 2008A and 2008B, to 'AAA/A-1+' from 'AA-/A-1+' to reflect the application of joint criteria. The bonds have joint support from a direct-pay letter of credit (LOC) provided by State Street Bank and Trust Company (AA-/A-1+) and the Alaska Industrial Development and Export Authority ('AA-' underlying rating). The rating is derived from the low correlation chart. Both the bank and the issuer are obligated to pay principal and interest for debt service. The short-term rating reflects the short-term rating of State Street Bank and Trust. The LOC provides coverage for all principal and interest
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| Brief Excerpt: | RESEARCH Ratings Definitions Rating On Alaska Indl Dev & Export Auth's Revolving Fund Refunding Bonds, Series 2008A And B, Revised To '###/A-1+' Publication date: 03-Nov-2009 Primary Credit Analyst: Lawrence Witte, San Francisco (1)...
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| Report Type: | Ratings Action
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| Issuer: | Alaska Indl Dev&Export Auth
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| Sector: | Global Issuers, Public Finance
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| Country: | United States
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| Region: | United States
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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.
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