Fitch Downgrades 23 First Union Supported Issues.Business Editors NEW YORK--(BUSINESS WIRE)--Oct. 16, 2000 Following its downgrade Downgrade A negative change in the rating of a security. Notes: For example, an analyst may downgrade a stock from strong buy to buy, or a bond rating agency may downgrade a bond from AAA to AA. of First Union National Bank's long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. rating to `A' from `A+' and short-term Short-term Any investments with a maturity of one year or less. short-term 1. Of or relating to a gain or loss on the value of an asset that has been held less than a specified period of time. rating to `F1' from `F1+', Fitch fitch: see polecat. , the international rating agency, downgrades 23 issues supported by First Union National Bank letters-of-credit or liquidity facilities and removes them from Rating Watch Negative. The affected bonds are listed below. For additional information, see Fitch's press release dated October October: see month. 12, 2000. Fitch is an international rating agency that provides global capital market investors with the highest quality ratings and research. Dual headquartered in 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 and London London, city, Canada London, city (1991 pop. 303,165), SE Ont., Canada, on the Thames River. The site was chosen in 1792 by Governor Simcoe to be the capital of Upper Canada, but York was made capital instead. London was settled in 1826. with a major office in Chicago Chicago, city, United States Chicago (shĭkä`gō, shĭkô`gō), city (1990 pop. 2,783,726), seat of Cook co., NE Ill., on Lake Michigan; inc. 1837. , Fitch rates entities in 75 countries and has some 1,100 employees in more than 40 local offices worldwide. The agency, which is a combination of Fitch IBCA IBCA International Braille Chess Association IBCA Institute of Burial and Cremation Administration IBCA Integrated Business Communications Alliance IBCA International Barbeque Cookers Association IBCA Department of Interior Board of Contract Appeals and Duff & Phelps Phelps may refer to: In places in the US:
-- Baltimore County (MD) (Oak Crest Village, Inc. Proj) rev bonds ser 1999A (LOC: First Union National Bank) `A/F1' (from `A+/F1+'). -- Baltimore County (MD) (Oak Crest Village, Inc. Proj) rev bonds ser 1999B (LOC: First Union National Bank) `A/F1' (from `A+/F1+'). -- Bowie Assisted Living, LLC (MD) var-rate demand bonds ser 1997 (LOC: First Union National Bank) `A/F1' (from `A+/F1+'). -- Collier County Health Facilities Authority (FL) (Moorings, Inc. Proj) health facils rev bonds ser 2000 (LOC: First Union National Bank) `A/F1' (from `A+/F1+'). -- Collier County Industrial Development Authority (FL) (Community Health Care, Inc. Obligated Group) health facils rev bonds ser 1999A (LOC: First Union National Bank) `A/F1' (from `A+/F1+'). -- Collier County Industrial Development Authority (FL) (Community Health Care, Inc. Obligated Group) health facils rev bonds ser 1999B (LOC: First Union National Bank) `A/F1' (from `A+/F1+'). -- Collier County Industrial Development Authority (FL) (Community Health Care, Inc. Obligated Group) health facils rev bonds ser 1999C (LOC: First Union National Bank) `A/F1' (from `A+/F1+'). -- Dauphin County General Authority (PA) (Reading Hospital & Medical Center Proj) var-rate demand rev bonds ser 1994A (LOC: First Union National Bank) `A/F1' (from `A+/F1+'). -- Florida Gulf Coast Foundation, Inc. COPs ser 2000 (LOC: First Union National Bank) `A/F1' (from `A+/F1+'). -- Florida Municipal Power Agency (FL) (Stanton II Project) var-rate demand rfdg rev bonds ser 1997 (insured: Ambac) (liquidity facility: First Union National Bank) `AAA/F1' (from `AAA/F1+'). -- Maryland Health & Higher Educational Facilities Authority (MD) (Charlestown Community Issue) rev bonds ser 1998A (LOC: First Union National Bank) `A/F1' (from `A+/F1+'). -- Maryland Health & Higher Educational Facilities Authority (MD) (Charlestown Community Issue) rev bonds ser 1998B (LOC: First Union National Bank) `A/F1' (from `A+/F1+'). -- Nassau County (NY) RANs ser 2000A (LOC: First Union National Bank) `F1' (from `F1+'). -- Nassau County (NY) RANs ser 2000C (LOC: First Union National Bank) `F1' (from `F1+'). -- Nassau County (NY) TANs ser 1999A (LOC: First Union National Bank) `F1' (from `F1+'). -- Oakland-Alameda County Coliseum Authority (CA) (Oakland Coliseum Proj) lease rev rfdg bonds ser 2000D (LOC: First Union National Bank) `A/F1' (from `A+/F1+'). -- Orange County Special Financing Authority (CA) Teeter Plan rev bonds ser 1995A (insured: Ambac) (liquidity facility: First Union National Bank) `AAA/F1' (from `AAA/F1+'). -- Orange County Special Financing Authority (CA) Teeter Plan rev bonds ser 1995B (insured: Ambac) (liquidity facility: First Union National Bank) `AAA/F1' (from `AAA/F1+'). -- Orange County Special Financing Authority (CA) Teeter Plan rev bonds ser 1995C (insured: Ambac) (liquidity facility: First Union National Bank) `AAA/F1' (from `AAA/F1+'). -- Orange County Special Financing Authority (CA) Teeter Plan rev bonds ser 1995D (insured: Ambac) (liquidity facility: First Union National Bank) `AAA/F1' (from `AAA/F1+'). -- Orange County Special Financing Authority (CA) Teeter Plan rev bonds ser 1995E (insured: Ambac) (liquidity facility: First Union National Bank) `AAA/F1' (from `AAA/F1+'). -- University of North Carolina System Board of Governors (NC) (Centennial Campus Projs) var-rate rev bonds ser 1999A (insured: FSA) (liquidity facility: First Union National Bank) `AAA/F1' (from `AAA/F1+'). -- University of North Florida Foundation, Inc. (FL) capital improv rev bonds ser 2000 (LOC: First Union National Bank) `A/F1' (from `A+/F1+'). |
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