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Fitch Withdraws Underlying Rating of Cedar Park, Texas GOs, COs, and Util Revs.


AUSTIN, Texas -- 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.
 affirms and simultaneously withdraws the underlying 'A+' rating on the City of Cedar Park Cedar Park could refer to
  • Cedar Park, Philadelphia, a neighborhood in Philadelphia, Pennsylvania
  • Cedar Park, Seattle, Washington, a neighborhood in Seattle, Washington
, Texas' (the city) general obligation (GO) bonds and certificates of obligation (COs). Fitch fitch: see polecat.  also affirms and simultaneously withdraws the underlying 'A-' rating on the city's utility system revenue bonds. The ratings are withdrawn at the request of the city's financial advisor. Fitch continues to maintain an 'AAA' enhanced rating on the outstanding debt on the city's GO bonds, COs, and utility system revenue bonds based on bond insurance provided by various 'AAA' rated bond insurers.

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 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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Publication:Business Wire
Date:Aug 31, 2005
Words:156
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