Fitch Rates Bexar County, Texas' $100MM Series A GO CP '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 -- 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. has assigned an 'F1+' rating to the $100,000,000 Bexar County, Texas Bexar County is a county located in the U.S. state of Texas. As of 2000, the population was 1,392,931. Its county seat is San Antonio6. In Spanish, "Béxar" is pronounced [ˈbehaɾ] , general obligation (GO) commercial paper (CP) notes, series A. The rating for the notes is based on both internal liquidity support provided by Bexar County, Texas and external liquidity support provided by Dexia Credit Local, acting through its New York Branch, in the form of a revolving credit agreement Revolving credit agreement A legal commitment in which a bank promises to lend a customer up to a specified maximum amount during a specified period. revolving credit agreement See line of credit. (the agreement). The rating for the notes will expire upon the earlier of: Sept. 20, 2012, the revolving credit maturity date, as defined in the agreement, unless such date is extended, or upon any prior termination of the credit agreement. Deutsche Bank Trust Company Americas, as Issuing and Paying Agent, is directed to request an advance under the Agreement whenever proceeds of commercial paper notes or other funds provided by the Bexar County are insufficient to pay the principal amount due upon maturity of the notes. The notes will be issued at par, with interest due at maturity. Bexar County is obligated ob·li·gate tr.v. ob·li·gat·ed, ob·li·gat·ing, ob·li·gates 1. To bind, compel, or constrain by a social, legal, or moral tie. See Synonyms at force. 2. To cause to be grateful or indebted; oblige. to pay the interest due on maturing notes. Following the occurrence of an event of default under the Agreement, the bank may direct that no additional notes be issued. In addition, the Agreement may be terminated at the option of the bank, upon the occurrence of specified events. Bear Stearns & Co. Inc. is the dealer for the notes. The proceeds of the notes will be used to finance various authorized purposes, for the county, including the construction of public works and purchase of materials, supplies, equipment, machinery, buildings, land and rights of way and to pay the cost of issuance of 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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