Fitch Affirms 'A+' Rating & Removes From Rating Watch 5 Gas Prepaid Deals.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 -- Fitch Ratings affirms five prepaid gas revenue bond projects at 'A+' and removes them from Rating Watch. This action is taken in connection with Fitch's affirmation of Merrill Lynch & Co. Inc.'s (MER mer Among the Cheremi and Udmurt peoples of Russia, a sacred grove where people of several villages gathered periodically to hold religious festivals and sacrifice animals to nature gods. , supplier's guarantor) long-term Issuer Default Rating (IDR IDR In currencies, this is the abbreviation for the Indonesian Rupiah. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ) of 'A+' and removal of the IDR from Rating Watch Evolving, and assignment of a Stable Outlook. The rating and Outlook on MER reflects the completed acquisition by Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. . (For more information on the acquisition, please see Fitch's press release dated Jan. 2, 2009). Fitch has affirmed and removed from Rating Watch Evolving the following gas revenue bond project ratings: --Main Street Natural Gas, Inc. gas project revenue bonds, series 2006B at 'A+'; --Main Street Natural Gas, Inc. gas project revenue bonds, series 2007A at 'A+'; --Public Authority for Colorado Energy gas purchase revenue bonds, series 2008 at 'A+'; --Roseville Natural Gas Financing Authority gas revenue bonds, series 2007A at 'A+'. Fitch has also affirmed and removed from Rating Watch Negative the following gas revenue bond project rating: --Long Beach Bond Financing Authority gas revenue bonds, series 2007A and 2007B at 'A+'. The Rating Outlook for each project is Stable. The long-term ratings and Outlook for the affected gas prepay bonds are determined by Fitch's assessment of each structure, the role of each counterparty in the structure, and their credit quality, including MER. In each case, bond proceeds were used to fund a natural gas prepay transaction between the issuer and Merrill Lynch Commodities, Inc. (MLCI MLCI Maxx Logistics for Commerce and Industry ), the gas supplier. MER is the guarantor of MLCI's obligations, as gas supplier and remarketer. For additional details regarding each of the affected transactions, please see the corresponding reports available on the Fitch Ratings web site at www.fitchratings.com. 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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