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Fitch Withdraws National Benevolent Association 'DDD' Bond Rating.


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 has withdrawn the 'DDD' rating on National Benevolent Association's (NBA NBA
abbr.
1. National Basketball Association

2. National Boxing Association

NBA (US) n abbr (= National Basketball Association) → Basketball-Dachverband (=
) outstanding debt, listed below. NBA filed for bankruptcy under Chapter 11 of the U.S. Bankruptcy Code Bankruptcy Code may refer to:
  • Bankruptcy in Canada
  • Bankruptcy in the United States
  • Bankruptcy in China
 in February 2004. In early April 2005, the court approved the sale of 11 senior living facilities to Fortress NBA Acquisition LLC (Logical Link Control) See "LANs" under data link protocol.

LLC - Logical Link Control
 for $210 million. The rating withdrawal is due to the approval of the reorganization plan A scheme authorized by federal law and promulgated by the president whereby he or she alters the structure of federal agencies to promote government efficiency and economy through a transfer, consolidation, coordination, authorization, or abolition of functions. , which includes the repayment of 100% of principal plus accrued interest Accrued Interest

The interest that has accumulated on a bond since the last interest payment up to but not including the settlement date.

There are two methods for calculating accrued interest:
1) 360-day year method, used for corporate and municipal bonds.
 to bondholders on NBA's outstanding debt. All notices to bondholders have been posted at 'www.benevolentbondholders.com'.

The ratings on the following outstanding debt are withdrawn by Fitch:

-- $9,650,000 Jacksonville Health Facilities Authority Industrial Development revenue bonds (NBA-Cypress Village Florida Project), series 2000A;

-- $10,080,000 Colorado Health Facilities Authority revenue bonds (NBA-Village at Skyline Project), series 2000C;

-- $9,390,000 Colorado Health facilities Authority revenue bonds (NBA-Village at Skyline Project), series 1999A;

-- $3,980,000 Oklahoma County Industrial Authority health care revenue bonds (NBA - Oklahoma Christian Home Project), series 1999;

-- $2,695,000 Missouri Health and Educational Facilities Authority health facilities refunding and improvement revenue bonds (NBA - Central Office Project), series 1999;

-- $15,145,000 Colorado Health Facilities Authority health facilities revenue bonds (NBA - Village at Skyline Project), series 1998B;

-- $10,715,000 Colorado Health Facilities Authority health facilities refunding revenue bonds (NBA - Multistate Issue), series 1998A;

-- $5,935,000 Iowa Finance Authority health facilities revenue bonds (NBA - Ramsey Home Project), series 1997;

-- $2,235,000 Oklahoma County Industrial Authority health care refunding revenue bonds (NBA - Oklahoma Christian Home Project), series 1997;

-- $2,160,000 Missouri Health and Educational Facilities Authority health facilities revenue bonds (NBA - Woodhaven Learning Center Project), series 1996A;

-- $625,000 Colorado Health Facilities Authority tax-exempt health facilities revenue bonds (NBA - Colorado Christian Home Project), series 1996A;

-- $2,650,000 Illinois Development Finance Authority health facilities revenue bonds (NBA - Barton W. Stone Barton Warren Stone was born on December 24 1772 to John and Mary Stone in Port Tobacco, Maryland. During his childhood he was exposed to the Church of England, Baptist, Methodist and Episcopal churches.  Christian Home Project), series 1996;

-- $4,485,000 Colorado Health Facilities Authority tax-exempt health facilities revenue bonds (NBA - Village at Skyline Project), series 1995A;

-- $4,655,000 Jacksonville (FL) Health Facilities Authority industrial development revenue bonds (NBA - Cypress Village Florida Project), series 1994;

-- $3,645,000 Missouri Health and Educational Facilities Authority health facilities revenue bonds (NBA - Lenoir Retirement Community Project), series 1994;

-- $8,015,000 Jacksonville (FL) Health Facilities Authority industrial development revenue bonds (NBA - Cypress Village Florida Project), series 1993;

-- $23,950,000 Jacksonville (FL) Health Facilities Authority revenue refunding bonds (NBA - Cypress Village Florida Project), series 1992;

-- $22,590,000 City of Indianapolis, Indiana “Indianapolis” redirects here. For other uses, see Indianapolis (disambiguation).
Indianapolis (IPA: [ˌɪndiəˈnæpəlɪs]) is the capital city of the U.S.
 economic development refunding and improvement revenue bonds (NBA - Robin Run Village Project), series 1992;

-- $4,485,000 Cass County Cass County is the name of nine counties in the United States:
  • Cass County, Illinois
  • Cass County, Indiana
  • Cass County, Iowa
  • Cass County, Michigan
  • Cass County, Minnesota
  • Cass County, Missouri
  • Cass County, Nebraska
  • Cass County, North Dakota
 Industrial Development Authority, Missouri industrial revenue refunding bonds (NBA - Foxwood Springs Living Center Project), series 1992;

-- $1,850,000 Bexar County (TX) Health Facilities Development Corp. tax-exempt health facilities revenue bonds (NBA - Patriot Heights Project), series 1992B.
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Publication:Business Wire
Date:Apr 27, 2005
Words:480
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