Fitch Ratings

NEW YORK--(BUSINESS WIRE)-- In the course of routine surveillance, Fitch Ratings has downgraded Indianapolis-Marion County Public Library, Indiana's (the library) approximately $97.7 million outstanding unlimited tax general obligation (GO) bonds to 'AA' from 'AAA', consisting of the following issues: --$17.8 million unlimited tax, series 2007; --$25 million unlimited tax, series 2006; --$7.9 million unlimited tax, series 2005; --$8 million unlimited tax, series 2003; ...

CHICAGO--(BUSINESS WIRE)-- Fitch Ratings was notified of the intention to change the interest rate swap and basis swap counterparty (Novation) of Commodore CDO III Ltd./Inc (Commodore III) to Barclays Bank PLC (Barclays, rated 'AA-/F1+' with a Stable Rating Outlook by Fitch), from AIG Financial Products Corp (AIG FP, rated 'BBB/F1' with an Evolving Outlook). In reviewing the Novation documents, Fitch applied its current counterparty criteria 'Counterparty Criteria for Structured Finance Transactions', dated Oct. 22, 2009. Under the criteria, the minimum counterparty rating for notes rated 'AA-' or better are 'A/F1', and ...

NEW YORK--(BUSINESS WIRE)-- As part of its ongoing surveillance efforts, Fitch Ratings affirms its 'AAA' rating on Cobb County Solid Waste Management Authority, Georgia's (the authority) approximately $12.4 million outstanding solid waste management authority revenue refunding bonds, series 2004. The Rating Outlook is Stable. The 'AAA' rating on the authority's series 2004 bonds reflects strong legal provisions ensuring contractual payments by Cobb County (the county) equal to debt service, as well as the county's exceptionally strong long-term credit characteristics, including strong financial management and capital planning, a growing ...

NEW YORK--(BUSINESS WIRE)-- Fitch Ratings assigns an 'AAA' rating to two series of State of Maryland general obligation (GO) qualified tax credit bonds, consisting of: --$50,320,000 qualified school construction bonds (QSCBs) of 2009 (tax credit bonds); --$5,563,000 qualified zone academy bonds (QZABs) of 2009 (CY 2007 federal allocation). The QSCBs will sell prior to Dec. 31, 2009; the QZABs will be placed privately on Dec. 7, 2009. Both QSCBs and QZABs mature in 15 years, with annual ...

NEW YORK--(BUSINESS WIRE)-- As part of routine surveillance, Fitch Ratings has affirmed the 'A-' rating on $580,000 in outstanding general obligation (GO) bonds and $30.26 million in outstanding combination tax and revenue certificates of obligation (COs) issued by the city of San Benito, Texas (the city). The Rating Outlook is Stable. The bonds and certificates are direct obligations of the city, payable from a levy and collection of a continuing ad valorem tax limited to $2.50 per $100 of taxable assessed valuation (TAV) on all taxable property within the city. The certificates are ...