Fitch Rates North Central Texas Health Facils (Northwest Senior Hsg) 1999A '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 $50,185,000 North Central Texas Health Facilities Development Corporation retirement facility revenue bonds (Northwest Senior Housing Corporation-Edgemere Project), series 1999A. The bonds were refunded on April 27, 2006 with proceeds of the Tarrant County Cultural Education Facilities Finance Corporation retirement facility revenue bonds (Northwest Senior Housing Corporation-Edgemere Project), series 2006A and series 2006B. The refunded bonds maturing Nov. 15, 2006-2010 will be 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. . The refunded bonds maturing Nov. 15, 2011-2029 will be redeemed on Nov. 15, 2009 at 102%. 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) , JPMorgan Chase Bank, will hold escrowed funds and securities in a segregated irrevocable trust fund for the benefit of refunded bondholders. The escrow fund is pledged irrevocably for the purpose of paying principal, interest and any redemption premium on refunded bonds. The 'AAApre' rating reflects this pledge and that all funds have been invested in direct obligations of the United States. In addition, any future substitution of investments is also limited to direct non-callable obligations of the U.S. Amtec and Ross & Company, PLLC PLLC Professional Limited Liability Company PLLC Polk Life and Learning Center (Bartow, FL) PLLC Partners of Limited Liability Corporation (collectively, the verification agent) 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 Ziegler Capital Markets Group, underwriter for the refunding bonds. In the opinion of the verification agent, the cash and securities will be sufficient for the timely payment of principal, interest and any redemption premium on the refunded bonds. 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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