| Title: | Summary: RAND Corporation; Non-Profit Organizations |
| Price: | $175.00 |
| Publication Date: | May 07, 2008 |
| Report Type: | Summary |
| Abstract: | Standard&Poor's Ratings Services assigned its 'AA+/A-1+' long-term rating and 'A+' underlying rating (SPUR) to the California Infrastructure and Economic Development Bank's $34.6 million series 2008A bonds and $93.6 million series 2008B revenue bonds, issued on behalf of the RAND Corporation. The long-term rating is based on direct-pay letters of credit (LOCs) provided by Bank of America, N.A. (AA+/A-1+). Finally, Standard&Poor's affirmed its 'A+' SPUR on the corporation's outstanding debt. The series 2008A and series 2008B LOCs each provide coverage for payment of principal and interest on the bonds for a maximum 35 days' of interest coverage at 12% annually. The LOCs will expire June 15, 2012, unless extended according to their terms. The bonds will initially |
| Brief Excerpt: | RESEARCH Ratings Definitions Summary: RAND Corporation; Non-Profit Organizations Publication date: ##-May-#### Primary Credit Analyst: Jessica Matsumori, San Francisco (#) ###-###-####; jessica_matsumori@standardandpoors.com Secondary... |
| Word Count: | 955 |
| Issuer: | RAND Corporation |
| Sector: | Global Issuers, Public Finance, Financial Institutions, Utilities |
| Country: | United States |
| Region: | United States |
| Format: | 
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