Cuyahoga County, Ohio's taxable economic development revenue refunding bonds series 2004B have been rated 'AA/A-1'. The 'AA' rating reflects the county's: Non-ad valorem tax pledge, and The county's general creditworthiness ('AA+' GO debt rating, stable outlook). The 'A-1' short-term component of the rating reflects the initial SBPA provided by Wachovia Bank N.A. ('A/A-1'). The SBPA shall provide for principal of and interest on unremarketed tendered bonds for a maximum of 35 days of interest at 12% per year. The scheduled expiration of the initial SPBA will be Feb. 26, 2007, unless terminated earlier according to its terms. The SBPA provider's obligation to purchase unremarketed tendered bonds shall be terminated without notice to bondholders upon the occurrence of various events in
