| Title: | Summary: Pittsburg Redevelopment Agency, California; Tax Increment |
| Price: | $175.00 |
| Publication Date: | May 02, 2008 |
| Report Type: | Summary |
| Abstract: | Standard&Poor's Ratings Services affirmed its 'AAA/A-1+' rating on the Pittsburg Redevelopment Agency, Calif.'s subordinate tax allocation bonds, series 2004A, following the addition of a direct-pay letter of credit (LOC) provided by State Street Bank and Trust ('AA/A-1+') and the California State Teachers Retirement System ('AA+/A-1+'). Previously, the bonds were rated 'AAA/A-1+' based on a bond insurance policy from Ambac Assurance Corp. and a liquidity facility provided by State Street Bank and Trust and CalSTRS. It is expected that on May 14, 2008, the liquidity facility will be replaced with the irrevocable, direct-pay LOC. Upon the effective date of the LOC, the long-term rating on the bonds will reflect the stronger of Ambac's rating and the rating of the |
| Brief Excerpt: | RESEARCH Ratings Definitions Summary: Pittsburg Redevelopment Agency, California; Tax Increment Publication date: ##-May-#### Primary Credit Analyst: Lawrence Witte, San Francisco (#) ###-###-####; larry_witte@standardandpoors.com... |
| Word Count: | 619 |
| Issuer: | Pittsburg Redev Agy |
| Sector: | Global Issuers, Public Finance, Financial Institutions |
| Country: | United States |
| Region: | United States |
| Format: | 
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