19, 2015) [hereinafter Zero Coupon Bonds], In contrast, a capital appreciation bond
is a bond in which the return on the initial principal amount (or purchase value) is reinvested until the bond matures.
37,604,290 series 2006D third subordinate capital appreciation bonds
due June 1, 2060 downgraded to 'B-sf' from 'B+sf'; removed from Negative Watch and assigned a Negative Outlook.
Despite the use of capital appreciation bonds
, debt service will remain steady and affordable, with a modest annual growth of around 3% in the next 10 years.
Bond proceeds, together with the 2012B bonds, will be used to refund the series 2002A capital appreciation bonds
(CABs) and 2002A current income bonds for debt service savings.
8 million SPS convertible capital appreciation bonds
, series 2011C.
NEW YORK -- Fitch Ratings affirms one and downgrades two classes of capital appreciation bonds
(CABs) from New York Counties Tobacco Trust V series 2005 as follows:
2006A capital appreciation bonds
downgraded to 'BB-' from 'BBB'; Outlook Negative;
Tobacco Settlement Asset-Backed Bonds capital appreciation bonds
NEW YORK -- Fitch Ratings has downgraded three classes of tobacco settlement asset-backed bonds capital appreciation bonds
from California County Tobacco Securitization Agency (TSA) (Fresno County Tobacco Asset Securitization Authority) series 2006, and revised Rating Outlooks as indicated below: