Fitch Rts City of Atlanta, Georgia Airport CP Notes Ser 2005 A & B 'F1+'.
U.S. Bank National Association, as the issuing and paying agent (IPA) for both series of notes is directed to draw on the applicable LOC to pay the principal amount and interest due upon the maturity of the notes. The LOCs provide coverage for the full principal amount of the notes plus interest equal to 270 days, calculated at a maximum rate of 12% based on a 365-day year. The notes will be issued at par, with interest due at maturity. Following an event of default under the respective LOC reimbursement agreement, the banks have the option to direct that no additional notes be issued or to direct the IPA to draw on the applicable LOC for the full amount of principal and interest on all notes then outstanding.
The commercial paper dealers for the notes are Bear, Stearns & Co. Inc. and Lehman Brothers/Nevis Securities LLC. The notes are expected to be available for delivery on or about Aug. 2, 2005.
The notes are being issued to finance the capital improvement plan of Hartsfield-Jackson Atlanta International Airport.
Fitch's rating definitions are available on the agency's public web site, www.fitchratings.com. Published ratings, criteria and methodologies and relevant policies and procedures are also available from this site, at all times. This document will remain on the public site for seven days.
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|Date:||Jul 18, 2005|
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