| Title: | Bulletin: Long Beach Bond Finance Authority's Bond Ratings Unaffected By Counterprty Outlook Revision |
| Price: | $100.00 |
| Publication Date: | May 02, 2008 |
| Report Type: | News |
| Abstract: | NEW YORK (Standard&Poor's) May 2, 2008--Standard&Poor's Ratings Services today noted that the outlook revision of Royal Bank of Canada (RBC; AA-/Stable/A-1+) does not affect the ratings or outlook on Long Beach Bond Finance Authority's $635.7 million revenue bonds series 2007A due 2037 and $251.7 million revenue bonds series 2007B (LBBFA; A+/Negative) due 2033. The rating on the prepay transaction is currently tied to the rating on LBBFA's gas supplier, Merrill Lynch Commodities Inc. (not rated; MLCI). Merrill Lynch&Co. Inc. (A+/Negative/A-1) guarantees MLCI's obligations under the LBBFA prepaid transaction. Standard&Poor's could revise the ratings or outlook on the LBBFA bonds if the rating or outlook on one of LBBFA's other counterparties becomes the |
| Brief Excerpt: | RESEARCH Ratings Definitions Bulletin: Long Beach Bond Finance Authority's Bond Ratings Unaffected By Counterprty Outlook Revision Publication date: ##-May-#### Primary Credit Analyst: Kenneth L Farer, New York (#) ###-###-####; kenneth_farer@standardan... |
| Word Count: | 458 |
| Issuer: | Long Beach Bond Finance Authority (Gas Prepay) |
| Sector: | Global Issuers, Structured Finance, Public Finance, Financial Institutions, Insurance, Corporations, Utilities, Asset-Backed Securities, Collateralized Debt Obligations, Real Estate Companies, Asset-Backed Commercial Paper, Commercial MBS, Residential MBS |
| Country: | United States |
| Region: | United States |
| Format: | 
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