Offsetting these ratings strengths are the company's almost exclusive use of secured debt, geographically concentrated portfolio, active development pipeline and recent acquisitions of assets with large amounts of vacancy, and recent missteps in the utilization of forward-starting swap
Asbury-MD also has a forward-starting swap
(execution date in 2013) and a basis swap contract outstanding with Lehman Brothers, which are yet to be resolved.
Risks include continued enplanement declines, a rising cost per enplaned passenger (CPE), the expiration of the current airline use-and-lease agreement in June 2011, and the April 2011 effective date of two forward-starting swap agreements, which have a negative fair value of $8 million as of March 2010.
However, the airport has two forward-starting swaps outstanding.
Fitch has been informed that Greenspring plans to enter into a forward-starting swap
with a notional amount of $30 million.
The current issues involve a forward-starting swap
in which the state will pay the counterparties a fixed rate and receive payments tied to the BMA index.
Current DSRF investment agreements may be terminated at par beginning on the start date of the forward-starting swap
, which would allow officials to move funds into floating- rate securities to offset the swap obligation should the city's costs exceed the funds received from the counterparty.
01 per diluted share of common stock relating to the settlement of two forward-starting swaps
As previously announced, including offering expenses and the settlement of forward-starting swaps
, the all-in effective rate of these unsecured notes is approximately 5.
As previously announced, including offering expenses and the settlement of three forward-starting swaps
, the all-in effective rate of these unsecured notes is 5.
Including all offering expenses and the settlement of two forward-starting swaps
, the all-in effective rate of the unsecured notes is 5.