Fitch Confirms Panama City-Bay County (Florida) Airport Facil CP Notes Ser A,B&C at 'F1'; Rts Ser D.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 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. confirms the 'F1' rating assigned to the Panama City-Bay County, Florida, Airport and Industrial District Airport Facilities commercial paper notes (CP Program), consisting of series A (Non-AMT), B (AMT See vPro. ) and C (Taxable) notes. In addition, Fitch assigns an 'F1' rating to the series D (Private Activity Non-AMT), which comprise the 'notes'. The confirmation for the series A, B and C notes and the assignment of the 'F1' rating is in connection with supplements to the Indenture of Trust which (i) reduce the authorized maximum amount of notes which may be outstanding from $80,000,000 to $60,000,000 and (ii) authorizes an additional series of notes, the series D notes; and supplements to the Letter of Credit (LOC LOC - lines of code ) and Reimbursement Agreement which (i) reduce the size of the LOC corresponding to the reduction in the authorized maximum amount of notes and (ii) amend the definition of CP notes to include series D. All of the notes are supported by an irrevocable direct-pay LOC issued Regions Bank, (rated 'A+/F1' by Fitch). The rating on the notes expires on the earlier of Dec. 12, 2011, the current expiration date of the LOC, unless such date is extended, or any prior termination of the LOC. Morgan Keegan & Company Inc. continues as the dealer for the notes. 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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