Summary: Kansas Department Of Transportation; Gas Tax - S&P Global Ratings’ Credit Research

Summary: Kansas Department Of Transportation; Gas Tax

Summary: Kansas Department Of Transportation; Gas Tax - S&P Global Ratings’ Credit Research
Summary: Kansas Department Of Transportation; Gas Tax
Published Sep 15, 2009
944 words — Published Sep 15, 2009
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Abstract:

Standard&Poor's Rating Services affirmed its 'AAA/A-1+' rating on Kansas Department of Transportation's adjustable tender highway revenue bonds series 2002B-1, 2002B-2, and 2002B-3. The bond rating will be revised due to the substitution of the standby bond purchase agreements (SBPAs) provided by Depfa Bank (A-2) and WestLB Guaranteed (A-1+) with a substitute SBPA that will be provided by Barclays Bank PLC (A-1+). The SBPA that will be provided by Barclays Bank PLC has an effective date of Sept. 15, 2009, and shall provide coverage for principle and 34 days of interest at 12% for the purchase price of bonds that are not successfully remarketed. The substitute SBPA will expire on Sept. 15, 2011, and upon such date the liquidity

  
Brief Excerpt:

RESEARCH Summary: Kansas Department Of Transportation; Gas Tax Publication date: 15-Sep-2009 Primary Credit Analyst: Beatriz Peguero, New York (1) 212-438-2164; beatriz_peguero@standardandpoors.com Secondary Credit Analyst: Edward...

  
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MLA:
S&P Global Ratings’ Credit Research. "Summary: Kansas Department Of Transportation; Gas Tax" Sep 15, 2009. Alacra Store. May 05, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Summary-Kansas-Department-Of-Transportation-Gas-Tax-746651>
  
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S&P Global Ratings’ Credit Research. (). Summary: Kansas Department Of Transportation; Gas Tax Sep 15, 2009. New York, NY: Alacra Store. Retrieved May 05, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-Kansas-Department-Of-Transportation-Gas-Tax-746651>
  
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