Fitch Rates $168.33 MM Florida DOT Tpke Revs Ser 1998B 'AAApre'.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 assigns a rating of 'AAApre' to the $168,330,000 State of Florida Department of Transportation The Florida Department of Transportation (FDOT) is a decentralized agency charged with the establishment, maintenance, and regulation of public transportation in the state of Florida[1]. turnpike revenue bonds, series 1998B, maturing July 1, 2009-2027. The bonds were refunded on Jan. 9, 2007 with proceeds of the State's Department of Transportation turnpike revenue bonds, series 2006A. The refunded bonds will be redeemed on July 1, 2008 at 101%. The escrow agent, Florida's State Board of Administration, will hold funds and securities in a separate irrevocable escrow deposit trust fund for the benefit of refunded bondholders. This fund is pledged for the purpose of paying interest and redemption price on refunded bonds, in addition to escrow agent fees. The 'AAApre' rating reflects this pledge to refunded bondholders and that all funds have been invested in non-callable direct obligations of the United States. In addition, any future substitute investments are limited to direct non-callable obligations issued or guaranteed by the U.S. and direct non-callable interest strips of the Resolution Funding Corporation Resolution Funding Corporation (RefCorp) A government agency established by Congress in 1989 to issue bailout bonds and raise funds for the activities of the Resolution Trust Corporation, as well as to administer struggling institutions inherited from the disbanded Federal Savings . Causey Causey is a village in County Durham, in England. It is situated a short distance to the north of Stanley. Demgen & Moore, Inc. verified the mathematical accuracy of debt service computations on the refunded bonds and income from the escrowed funds and securities, contained in schedules provided to them by the State of Florida. According to the verification report of Causey Demgen & Moore, the cash and securities will produce amounts necessary to provide for the debt payment schedule on all refunded bonds and escrow agent fees. 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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