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S&P Credit Research877 word report
published Nov 04, 2009
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S&P Credit Research
| Abstract: | Standard&Poor's Ratings Services assigned its 'AA/A-1+' rating to South Carolina Educational Facilities Authority's variable-rate educational facilities revenue bonds series 2009, issued for Converse College. The rating is based on a letter of credit provided by Wachovia Bank N.A. The bonds will initially be issued in the weekly rate mode, but may convert to other modes including daily, flexible, long term, and fixed. While the bonds are in the weekly and daily rate mode, bondholders have tender options with appropriate notice. The bonds are subject to mandatory tender on each interest rate conversion date, credit modification date, the day after each flexible rate period, credit issuance date, following the trustee receipt of notice of an event of default under
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| Brief Excerpt: | RESEARCH Ratings Definitions Summary: South Carolina Education Facilities Authority Converse College; Letter of Credit Publication date: 04-Nov-2009 Primary Credit Analyst: Louis F Louis, New York (1) 212-438-2054; louis_louis@standardandpoors.com...
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| Report Type: | Summary
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| Issuer: | Converse College
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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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| Free Sample: |
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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.
