Fitch Confirms S-T 'F1+' Rating on JEA's Var Rate Water & Sewer Sys Sub Rev Bds, 2008 Ser A-2.NEW YORK -- Fitch Ratings confirms the short-term 'F1+' rating assigned to JEA's $65,275,000 currently outstanding variable rate water and sewer system subordinated revenue bonds, 2008 series A-2 (the bonds). The long-term 'AA' rating (currently on Rating Watch Negative) continues to be based on the rating Fitch has assigned to JEA's water and sewer system subordinated revenue bonds. The confirmation is in connection with the Aug. 25, 2009 substitution of the standby bond purchase agreement (SBPA SBPA Simple Branch Prediction Analysis SBPA Scottish Beer and Pub Association (UK) SBPA School of Business and Public Administration SBPA School-Based Performance Award SBPA School-Based Performance Awards ) provided by The Bank of New York Mellon The Bank of New York Mellon Corporation (NYSE: BK), is a global financial services company formed on 1 July 2007 as result of the merger of The Bank of New York and Mellon Financial Corporation. (formerly The Bank of New York The Bank of New York, abbrieviated to BNY, was a global financial services company that existed until its merger with the Mellon Financial Corporation on July 2, 2007.[1] The bank now continues under the new name of The Bank of New York Mellon Corporation. ) which provides liquidity for the bonds, with a SBPA issued by JPMorgan Chase Bank, National Association. The short-term rating on the bonds will expire upon the earliest of: Aug. 10, 2011, the stated termination date of the SBPA; or any prior termination of the SBPA. 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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