Fitch Rates Clackamas County HFA (Oregon) 1999A Revs (Mary's Woods at Marylhurst) '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 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. assigns a rating of 'AAApre' to the Hospital Facility Authority of Clackamas County, Oregon's $31,745,000 senior living facility revenue bonds (Mary's Woods at Marylhurst, Inc. Project), series 1999A. The bonds were refunded on Nov. 3, 2005 with proceeds of the Authority's variable-rate demand senior living facility revenue refunding bonds (Mary's Woods at Marylhurst, Inc.), series 2005, an equity contribution from Mary's Woods at Marylhurst and amounts transferred from the refunded bonds' debt service and debt service reserve funds. The serial bonds maturing May 15, 2007-2010 have been escrowed to maturity Escrowed To Maturity The condition of a bond that has been repaid in advance by means of an escrow account, which holds the funds needed to pay the periodic coupon payments and the principal. . All outstanding term bonds will be redeemed at 102% on May 15, 2009. The escrow agent escrow agent n. a person or entity holding documents and funds in a transfer of real property, acting for both parties pursuant to instructions. Typically the agent is a person (commonly an attorney), escrow company or title company, depending on local practice. (See: escrow) , U.S. Bank, National Association, will hold funds and securities in trust in a segregated irrevocable escrow account, solely for the benefit of the refunded bondholders. The escrow agent has been directed to use such funds solely for the purpose of paying principal, interest and redemption price on refunded bonds. The 'AAApre' rating reflects the pledge to refunded bondholders and that all funds have been invested in direct non-callable obligations of the United States. Any future investments are also limited to direct non-callable obligations of the U.S. Chris D. Behrens, CPA (Computer Press Association, Landing, NJ) An earlier membership organization founded in 1983 that promoted excellence in computer journalism. Its annual awards honored outstanding examples in print, broadcast and electronic media. The CPA disbanded in 2000. verified the mathematical accuracy of computations of the receipts from escrow investments and debt service requirements of refunded bonds, contained in schedules provided to them by Ziegler Capital Markets, underwriter for the refunding bonds. In the opinion of Chris D. Beherens, CPA, anticipated receipts from the escrow fund investments will be sufficient to pay principal, interest and redemption price of the refunded bonds when due. 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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