Iowa Finance Authority Bonds Series 2006A&B (The Pointe At Cedar Rapids LLC) Ratings Lowered To 'A+/A-1' - S&P Global Ratings’ Credit Research

Iowa Finance Authority Bonds Series 2006A&B (The Pointe At Cedar Rapids LLC) Ratings Lowered To 'A+/A-1'

Iowa Finance Authority Bonds Series 2006A&B (The Pointe At Cedar Rapids LLC) Ratings Lowered To 'A+/A-1' - S&P Global Ratings’ Credit Research
Iowa Finance Authority Bonds Series 2006A&B (The Pointe At Cedar Rapids LLC) Ratings Lowered To 'A+/A-1'
Published Aug 01, 2011
Published Aug 01, 2011
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

NEW YORK (Standard&Poor's) Aug. 1, 2011--Standard&Poor's Ratings Services today lowered its ratings on Iowa Finance Authority's variable-rate demand multifamily housing revenue bonds series 2006A and 2006B (for The Pointe at Cedar Rapids LLC project) due Dec. 1, 2041, to 'A+/A-1' from 'AA+/A-1+' (see list). Our ratings on the series 2006A and 2006B bonds reflect our opinion of the credit and liquidity support that BMO Harris Bank N.A. (BMO Harris) provides for the bonds in the form of an irrevocable direct-pay letter of credit (LOC). The long-term components of our ratings are based on our long-term issuer credit rating on BMO Harris ('A+') and address full and timely payments of interest and principal when the bondholders have

  
Report Type:

Ratings Action

Issuer
Iowa Finance Authority
Sector
Global Issuers, Public Finance
Country
United States
Region
United States
Format:
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MLA:
S&P Global Ratings’ Credit Research. "Iowa Finance Authority Bonds Series 2006A&B (The Pointe At Cedar Rapids LLC) Ratings Lowered To 'A+/A-1'" Aug 01, 2011. Alacra Store. May 25, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Iowa-Finance-Authority-Bonds-Series-2006A-B-The-Pointe-At-Cedar-Rapids-LLC-Ratings-Lowered-To-A-A-1-882445>
  
APA:
S&P Global Ratings’ Credit Research. (). Iowa Finance Authority Bonds Series 2006A&B (The Pointe At Cedar Rapids LLC) Ratings Lowered To 'A+/A-1' Aug 01, 2011. New York, NY: Alacra Store. Retrieved May 25, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Iowa-Finance-Authority-Bonds-Series-2006A-B-The-Pointe-At-Cedar-Rapids-LLC-Ratings-Lowered-To-A-A-1-882445>
  
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