Fitch Upgrades $90MM Louisiana Pub Fac Auth VRDBs Series 04 to 'A+/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 raises the rating assigned to the $90,000,000 Louisiana Public Facilities Authority, revenue bonds (Tiger Athletic Foundation Project) series 2004 from 'A/F1' to 'A+/F1+', effective Nov. 21, 2005. The upgraded rating is based on a substitute irrevocable direct pay letter of credit (substitute LOC LOC - lines of code ) provided by Regions Bank, N.A. (the bank). The bonds were previously rated 'A/F1' based on the support of an irrevocable direct pay letter of credit (LOC) provided by Hibernia National Bank For other uses of "Hibernia", see Hibernia (disambiguation). Hibernia National Bank, founded in 1870, was a personal banking and commercial lending institution headquartered in New Orleans, Louisiana. . Citigroup Global Markets Inc. continues as remarketing agent for the bonds. The rating on the bonds will expire upon the earliest of: March 20, 2009, the stated expiration date of the substitute LOC, unless otherwise extended; any prior termination of the LOC; and defeasance of the 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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