Iowa Finance Authority Series 2007A (Windsor On The River LLC) Bond Rating Lowered To 'A/A-1' - S&P Global Ratings’ Credit Research

Iowa Finance Authority Series 2007A (Windsor On The River LLC) Bond Rating Lowered To 'A/A-1'

Iowa Finance Authority Series 2007A (Windsor On The River LLC) Bond Rating Lowered To 'A/A-1' - S&P Global Ratings’ Credit Research
Iowa Finance Authority Series 2007A (Windsor On The River LLC) Bond Rating Lowered To 'A/A-1'
Published Jan 26, 2012
Published Jan 26, 2012
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

NEW YORK (Standard&Poor's) Jan. 26, 2012--Standard&Poor's Ratings Services today lowered its rating on Iowa Finance Authority's $24 million variable-rate demand multifamily housing revenue bonds series 2007A (for the Windsor on the River LLC project) due May 1, 2042, to 'A/A-1' from 'AA-/A-1+' following the replacement of the irrevocable direct-pay letter of credit (LOC) that Wells Fargo Bank N.A. ('AA-/A-1+') had provided with a new LOC from PNC Bank N.A. ('A/A-1'). The 'A/A-1' rating reflects our opinion of the credit and liquidity support that PNC Bank provides in the form of an irrevocable direct-pay LOC. Under the LOC, PNC Bank N.A. fully supports all bond payment obligations when the bonds are in the weekly interest rate reset

  
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 Series 2007A (Windsor On The River LLC) Bond Rating Lowered To 'A/A-1'" Jan 26, 2012. Alacra Store. May 25, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Iowa-Finance-Authority-Series-2007A-Windsor-On-The-River-LLC-Bond-Rating-Lowered-To-A-A-1-933635>
  
APA:
S&P Global Ratings’ Credit Research. (). Iowa Finance Authority Series 2007A (Windsor On The River LLC) Bond Rating Lowered To 'A/A-1' Jan 26, 2012. New York, NY: Alacra Store. Retrieved May 25, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Iowa-Finance-Authority-Series-2007A-Windsor-On-The-River-LLC-Bond-Rating-Lowered-To-A-A-1-933635>
  
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