Correction: Fitch Rates Northern Tobacco Sec Corp. (AK) $209.68MM 2000 & 2001 Bonds 'AAApre'.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- This is a correction for a previous message. It corrects the dollar amount for the bonds in the headline. Fitch assigns a rating of 'AAApre' to the Northern Tobacco Securitization Corporation, Alaska (NTSC (National TV Standards Committee) The committee that developed the television standards for the U.S, which are also used in Canada, Japan, South Korea and several Central and South American countries. Both the committee and the standard are called "NTSC. ), tobacco settlement asset-backed bonds, consisting of the $100,505,000 series 2000 and $109,180,000 series 2001. The bonds were refunded with a portion of the proceeds of NTSC's tobacco settlement asset-backed bonds, series 2006A, B, and C and funds transferred from the refunded bonds' debt service and debt service reserve accounts. The series 2000 serial and term bonds maturing on and after June 1, 2011 will be redeemed on June 1, 2010 at par plus accrued interest. The series 2001 serial and term bonds payable on and after June 1, 2012 will be redeemed on June 1, 2011 at par plus accrued interest. Refunded term bonds will be subject to a turbo redemption payment schedule, as authorized by the provisions of the refunded bonds. The trustee, U.S. Bank National Association, will hold funds and securities in a separate irrevocable escrow trust fund, pledged irrevocably to the payment of principal, interest and redemption price of the refunded bonds. The 'AAApre' rating reflects this structure and the investment of all funds in 'AAA' rated permitted defeasance securities consisting of state and local government series State and local government series (SLUGs) Special nonmarketable certificates, notes, and bonds offered to state and local governments as a means to invest proceeds from their own tax-exempt financing. Interest rates and maturities comply with IRS arbitrage provisions. obligations (SLGS SLGS Service Level Guarantee Scheme SLGS State and Local Governement Series (US Treasury) SLGS Simon Langton Girls School (Canterbury, Kent, England) ). No substitutions of these investment securities are permitted pursuant to the terms of the escrow agreement. Grant Thornton LLP  This article or section is written like an .Please help [ rewrite this article] from a neutral point of view. Mark blatant advertising for , using . verified the mathematical accuracy of debt service computations on the refunded bonds and income from the escrowed funds and securities, contained in schedules provided to them by Bear Stearns & Co., Inc., underwriter for the refunding bonds. In the opinion of Grant Thornton, the anticipated receipts from cash and securities deposited in the escrow fund will be sufficient for the timely payment of the principal and interest due on the refunded bonds through the redemption dates. Fitch's rating definitions and the terms of use Terms of Use are rules set up by the owner of an intellectual property or service to govern how they may be legally used. In many cases, terms of service are used as a contractual agreement between a company and users of a service they provide. of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures Policies and Procedures are a set of documents that describe an organization's policies for operation and the procedures necessary to fulfill the policies. They are often initiated because of some external requirement, such as environmental compliance or other governmental are also available from the 'Code of Conduct' section of this site. |
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