Summary: Standard&Poor's Takes Rating Actions On CIFG-Insured Variable-Rate Demand Obligations; Appropriations; General Obligation; Miscellaneous Tax; Public Coll/Univ - Unlimited Student Fees - S&P Global Ratings’ Credit Research

Summary: Standard&Poor's Takes Rating Actions On CIFG-Insured Variable-Rate Demand Obligations; Appropriations; General Obligation; Miscellaneous Tax; Public Coll/Univ - Unlimited Student Fees

Summary: Standard&Poor's Takes Rating Actions On CIFG-Insured Variable-Rate Demand Obligations; Appropriations; General Obligation; Miscellaneous Tax; Public Coll/Univ - Unlimited Student Fees - S&P Global Ratings’ Credit Research
Summary: Standard&Poor's Takes Rating Actions On CIFG-Insured Variable-Rate Demand Obligations; Appropriations; General Obligation; Miscellaneous Tax; Public Coll/Univ - Unlimited Student Fees
Published Sep 11, 2008
Published Sep 11, 2008
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

Standard&Poor's Ratings Services said as result of its downgrade of CIFG Assurance North America Inc.'s (CIFG) financial strength rating to 'B', it has taken the following rating actions on variable-rate demand bonds (VRDOs) that are supported by CIFG insurance policies. For those issues that currently have an underlying rating (SPUR), Standard&Poor's will rate to the higher of the SPUR or the insurer for the long-term component of the rating. The short-term component of the VRDO rating will be changed to NR (not rated) as a result of the terms of the related standby bond purchase agreements (SBPAs). The SBPAs typically contain events of default that can lead to termination of the SBPA by the provider without

  
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Summary

Issuer
Austin
Sector
Global Issuers, Public Finance, Structured Finance
Country
United States
Region
United States
Format:
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MLA:
S&P Global Ratings’ Credit Research. "Summary: Standard&Poor's Takes Rating Actions On CIFG-Insured Variable-Rate Demand Obligations; Appropriations; General Obligation; Miscellaneous Tax; Public Coll/Univ - Unlimited Student Fees" Sep 11, 2008. Alacra Store. Nov 07, 2026. <http://www.alacrastore.com/s-and-p-credit-research/Summary-Standard-Poor-s-Takes-Rating-Actions-On-CIFG-Insured-Variable-Rate-Demand-Obligations-Appropriations-General-Obligation-Miscellaneous-Tax-Public-Coll-Univ-Unlimited-Student-Fees-670698>
  
APA:
S&P Global Ratings’ Credit Research. (). Summary: Standard&Poor's Takes Rating Actions On CIFG-Insured Variable-Rate Demand Obligations; Appropriations; General Obligation; Miscellaneous Tax; Public Coll/Univ - Unlimited Student Fees Sep 11, 2008. New York, NY: Alacra Store. Retrieved Nov 07, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-Standard-Poor-s-Takes-Rating-Actions-On-CIFG-Insured-Variable-Rate-Demand-Obligations-Appropriations-General-Obligation-Miscellaneous-Tax-Public-Coll-Univ-Unlimited-Student-Fees-670698>
  
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