Release date- 22082019 - Kroll Bond Rating Agency (KBRA) assigns a long-term rating of AA+ with a Stable Outlook to the Metropolitan Transit Authority of Harris County, Texas (the 'Authority') Sales and Use Tax
Refunding Bonds Series 2019A and Taxable Series 2019B.
--$36.5 million Michigan Finance Authority hospital revenue and
refunding bonds, series 2013A;
This rating resulted in low interest rates during the sale of $1.39 billion in bonds, which includes $349 million of
refunding bonds to refund previously issued bonds and achieve total debt service savings of $43.8 million.
The city issued Series 2015 General Obligation
Refunding Bonds at lower interest rates to retire the outstanding Series 2007 General Obligation Bonds with higher rates--3.14 percent versus 4.8 percent.
The first is for the issuance of
refunding bonds, not to exceed $7.5 million, which will cover debts already on the books for the sales tax, currently set to expire in 2022.
The sale consists of USD$371.1 million of
refunding bonds subject to the alternative minimum tax (AMT) and USD$133.6 million non-AMT
refunding bonds structured with serial maturities from 2014 through 2034, the POS said.
Meanwhile, Bank of America Merrill Lynch (NYSE: BAC) has won USD441m in
refunding bonds, for which the State will use the proceeds to refund certain previously issued general obligation bonds.
S&P also gave its A+ long-term rating to the city's USD788.595m (EUR564.811m) series 2010A GO
refunding bonds, series 2010B GO taxable project bonds, and series 2010C GO taxable project and
refunding bonds.
However, this tax increase will not cover any taxable property located in the "dissolved school district." Other conditions provide that the net interest rate, maturity date, and "tax levy" of the
refunding bonds cannot exceed that of the refunded bonds.
Rating agency Fitch Ratings has announced its ratings for the airport revenue
refunding bonds to be issued by Wayne County Airport Authority, Michigan.
ENPNewswire-July 31, 2019--KBRA Releases Report Assigning AAA Rating and Stable Outlook to State of Delaware General Obligation
Refunding Bonds, Series 2019A
These are as follows:--$51.1 million GO
refunding bonds, series 2018A 'AA+'; --$4.3 million taxable GO
refunding bonds, series 2018B 'F1+'; and --$7.1 million taxable GO
refunding bonds, series 2018C 'AA+'.
