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Global Ministries Fellowship, TN 2014A Bond Rating Raised 16 Notches To 'AA+' On Planned Defeasance Via Escrow Deposit

Published Apr 26, 2021

2 pages (1101 words) — Published Apr 26, 2021

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Abstract:

SAN FRANCISCO (S&P Global Ratings) April 26, 2021--S&P Global Ratings raised its rating on Public Finance Authority, Wis.' (Forest Cove) series 2014A multifamily housing revenue bonds, issued for Global Ministries Fellowship, Tenn., 16 notches to 'AA+' from 'CCC'. The outlook is stable. "The rating action reflects our opinion of the planned bond defeasance through the deposit of cash into an escrow fund on April 27, 2021," said S&P Global Ratings credit analyst Jose Cruz. The bonds are due to be refunded in full at the redemption price of par plus accrued interest on Feb. 1, 2024, the bonds' optional redemption date. The stable outlook reflects S&P Global Ratings' view of investments in U.S. government obligations. Negative rating actions on the

Report Type:

Ratings Action

Issuer

Public Finance Authority

Sector

Global Issuers, Public Finance

Country

United States

Region

United States

Format:

PDF

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MLA:	S&P Global Ratings’ Credit Research. "Global Ministries Fellowship, TN 2014A Bond Rating Raised 16 Notches To 'AA+' On Planned Defeasance Via Escrow Deposit" Apr 26, 2021. Alacra Store. May 14, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Global-Ministries-Fellowship-TN-2014A-Bond-Rating-Raised-16-Notches-To-AA-On-Planned-Defeasance-Via-Escrow-Deposit-2635774>

APA:	S&P Global Ratings’ Credit Research. (). Global Ministries Fellowship, TN 2014A Bond Rating Raised 16 Notches To 'AA+' On Planned Defeasance Via Escrow Deposit Apr 26, 2021. New York, NY: Alacra Store. Retrieved May 14, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Global-Ministries-Fellowship-TN-2014A-Bond-Rating-Raised-16-Notches-To-AA-On-Planned-Defeasance-Via-Escrow-Deposit-2635774>

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