Fitch Affirms $31.76MM Manchester, NH, Airport VRDBs, Ser 2001, at 'AAA/F1+'.NEW YORK -- Fitch affirms the 'AAA/F1+' rating assigned to the $31,760,000 City of Manchester, New Hampshire This article is about the city in New Hampshire. For other uses, see Manchester (disambiguation). Manchester is the largest city in the U.S. state of New Hampshire and the largest city of northern New England, an area composed of Vermont, New Hampshire and Maine. , general airport revenue bonds, series 2001 (variable-rate demand, AMT). The bonds originally were rated based on: a municipal bond insurance Municipal bond insurance An insurance policy which guarantees payment on municipal bonds in the event of default . municipal bond insurance A guarantee from a third party that principal and interest will be paid to a bondholder. policy provided by Financial Guaranty Insurance Company (Policy) with respect to the 'AAA' long-term rating, and the standby bond purchase agreement (Standby) provided by FGIC FGIC See Financial Guaranty Insurance Corporation (FGIC). Securities Purchase Inc. with respect to the 'F1+' short-term rating. On Jan. 3, 2007, the Standby will be replaced with a Standby provided by DEPFA BANK plc, acting through its New York Branch (DEPFA Standby). The 'AAA' rating continues to be based on the Policy, and effective Jan. 3, 2007, the short-term 'F1+' rating will be based on the DEPFA Standby. The short-term rating will expire on the earlier of Jan. 1, 2022, or any earlier termination of the DEPFA Standby. The remarketing agent is Lehman Brothers Inc. 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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