| Title: | Summary: Southern California Metropolitan Water District; Water/Sewer |
| Price: | $175.00 |
| Publication Date: | May 07, 2008 |
| Report Type: | Summary |
| Abstract: | Standard&Poor's Ratings Services affirmed its 'AAA/A-1+' rating on the Southern California Metropolitan Water District's (MWD) water revenue refunding bonds, series 2006 A-1 and A-2, in advance of the substitution of a standby bond purchase agreement (SBPA) from Banco Bilbao Vizcaya Argentaria, S.A., on May 23, 2008. The new SBPA will provide liquidity support for all tenders at the maximum rate of 12%. The SBPA will expire May 23, 2013, unless terminated earlier in accordance with its terms. Should the bank hold bonds for 91 days following a failed remarketing, the issuer will be obligated to repay the bank, over a four-year period, principal and interest at a rate of the greater of a rate announced by the bank |
| Brief Excerpt: | RESEARCH Ratings Definitions Summary: Southern California Metropolitan Water District; Water/Sewer Publication date: ##-May-#### Primary Credit Analyst: Lawrence Witte, San Francisco (#) ###-###-####; larry_witte@standardandpoors.com... |
| Word Count: | 628 |
| Ticker: | 8678Z |
| Issuer: | Southern California Metro Wtr Dist |
| Sector: | Public Finance |
| Country: | United States |
| Region: | United States |
| Format: | 
HTML
|
| Free Sample: |
Click
Here
to Download
|
Looking For Something Else?
