| Title: | Maryland Energy Financing Administration's Bonds Placed On CreditWatch Negative |
| Price: | $100.00 |
| Publication Date: | May 09, 2008 |
| Report Type: | News |
| Abstract: | NEW YORK (Standard&Poor's) May 9, 2008--Standard&Poor's Ratings Services placed its 'A-' rating on Maryland Energy Financing Administration's bonds on CreditWatch with negative implications due to the recent credit deterioration of Synagro Technologies Inc. (STI). STI is the parent company of Synagro-Baltimore LLC (Synagro), the owner of the Maryland Energy Financing Administration facility. Standard&Poor's lowered its rating on STI to 'B-/Negative' from 'B/Stable' on April 2, 2008. While the previous rating on the Maryland Energy Financing Administration's bonds reflected the economics of the project, under Standard&Poor's current criteria, the transaction's legal structure does not provide adequate protection from Synagro in the event of STI's continued deterioration. Synagro and STI are considering changes to |
| Brief Excerpt: | RESEARCH Ratings Definitions Maryland Energy Financing Administration's Bonds Placed On CreditWatch Negative Publication date: ##-May-#### Primary Credit Analyst: Richard J Marino, New York (#) ###-###-####; richard_marino@standardandpoors.com... |
| Word Count: | 532 |
| Issuer: | Maryland Energy Fing Admin |
| Sector: | Global Issuers, Public Finance, Financial Institutions, Corporations |
| Country: | United States |
| Region: | United States |
| Format: | 
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