Fitch Affirms New York Job Dev Auth, State-Guaranteed CP Notes Ser H 'F1+'.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 -- Effective April 7, 2005, Fitch Ratings Fitch Ratings An international rating agency for financial institutions, insurance companies, and corporate, sovereign, and municipal debt. Fitch Ratings has headquarters in New York and London and is wholly owned by FIMALAC of Paris. will affirm the short-term 'F1+' rating assigned to the New York Job Development Authority state-guaranteed commercial paper notes, series H. This affirmation will be based on the issuance of a substitute revolving line of credit Revolving line of credit A bank line of credit on which the customer pays a commitment fee and can take and repay funds at will. Normally a revolving LOC involves a firm commitment from the bank for a period of several years. agreement (the line of credit) to be provided by Fleet National Bank, a 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. Company. The short-term 'F1+' rating will expire on the earlier to occur of the stated expiration date (April 7, 2010), as defined in the line of credit, or any prior termination of the line of credit. J.P. Morgan Securities Inc. is the commercial paper dealer for the issue and JPMorgan Chase Bank is the issuing and paying agent. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion