Summary: Jets Stadium Development LLC

S&P Global Ratings' underlying rating on Jets Stadium's $255 million project revenue series 2007A-4 bonds, which Assured Guaranty Municipal Corp. (AGM) insures, is 'BBB-', and the outlook is stable. The enhanced dual rating on the series 2007A-4 bonds is 'AA/A-1'. We base the 'AA' long-term rating on the bond insurance policy from AGM. We base the short-term component of the rating on the letter of credit that Sumitomo Mitsui Banking Corp. (A/A-1) provides. Our underlying rating on the $200 million series 2007A-1 bonds, which Assured Guaranty Municipal Corp. (AGM) insures, is 'BBB-' with a stable outlook. Our rating on the $195 million series 2007A-3 bonds is 'BBB-' with a stable outlook. The project is an 82,500-seat open-air stadium in East

...S&P Global Ratings' underlying rating on Jets Stadium's $255 million project revenue series 2007A-4 bonds, which Assured Guaranty Municipal Corp. (AGM) insures, is '###-', and the outlook is stable. The enhanced dual rating on the series 2007A-4 bonds is '##/A-1'. We base the '##' long-term rating on the bond insurance policy from AGM. We base the short-term component of the rating on the letter of credit that Sumitomo Mitsui Banking Corp. (A/A-1) provides. Our underlying rating on the $200 million series 2007A-1 bonds, which Assured Guaranty Municipal Corp. (AGM) insures, is '###-' with a stable outlook. Our rating on the $195 million series 2007A-3 bonds is '###-' with a stable outlook. The project is an 82,500-seat open-air stadium in East Rutherford, N.J., and home to the National Football League's New York Jets and New York Giants. Jets Stadium used proceeds to fund its portion of the construction costs of New Meadowlands Stadium Co. LLC (NMSCO), now known as MetLife Stadium. NMSCO,...

Summary