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Summary: Atlanta, Georgia; Letter of Credit

Published Apr 28, 2008

564 words — Published Apr 28, 2008

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Abstract:

Standard&Poor's Ratings Services assigned its 'AA/A-1+' rating to Atlanta, Ga.'s water and wastewater revenue bonds series 2008. The rating reflects the direct-pay letter of credit (LOC) provided by Wachovia Bank N.A. The LOC will provide coverage for all principal and interest payments and for the purchase price of the bonds that are not successfully remarketed for a maximum of 34 days at 12% while the bonds bear interest at the daily and weekly modes. The bonds will initially bear interest in a weekly rate mode. Should the LOC provider purchase bonds, the bonds will be subject to quarterly payments on a five-year repayment period by the issuer at a bank rate of the prime rate (a base rate

Brief Excerpt:

RESEARCH Summary: Atlanta, Georgia; Letter of Credit Publication date: 28-Apr-2008 Primary Credit Analyst: Shannon Groff, San Francisco (1) 415-371-5005; shannon_groff@standardandpoors.com Secondary Credit Analyst: Lawrence Witte,...

Report Type:

Summary

Issuer

Atlanta

Sector

Global Issuers, Public Finance

Country

United States

Region

United States

Format:

HTML

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MLA:	S&P Global Ratings’ Credit Research. "Summary: Atlanta, Georgia; Letter of Credit" Apr 28, 2008. Alacra Store. May 22, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Summary-Atlanta-Georgia-Letter-of-Credit-645136>

APA:	S&P Global Ratings’ Credit Research. (). Summary: Atlanta, Georgia; Letter of Credit Apr 28, 2008. New York, NY: Alacra Store. Retrieved May 22, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-Atlanta-Georgia-Letter-of-Credit-645136>

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