Fitch Withdraws Texas GO Veterans Series 2007A & 2008A Bonds

NEW YORK--(BUSINESS WIRE)-- Fitch Ratings withdraws the 'AAA/F1+' ratings on the following general obligation (GO) bonds of the State of Texas:

--GO veterans housing assistance program fund II bonds series 2007A;

--GO veterans housing assistance program fund II bonds series 2008A.

In addition, Fitch withdraws the 'AAA' rating on bank bonds associated with the series 2008A bonds above.

The short-term ratings on the series 2007A bonds were based on a standby bond purchase agreements (SBPA) with State Street Bank and Trust Company, which expires today. The short-term ratings on the series 2008A bonds were based on a SBPA with the Bank of Tokyo-Mitsubishi, which also expires today. The long-term ratings on both bonds and on the bank bonds associated with series 2008A were based on the GO credit quality of the State of Texas. The withdrawal is based on the bonds' being taken private upon expiration of the SBPAs noted earlier.

Additional information is available at 'www.fitchratings.com'.

Additional Disclosures

Solicitation Status

https://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=991928

Endorsement Policy

https://www.fitchratings.com/jsp/creditdesk/PolicyRegulation.faces?context=2&detail=31

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE '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 ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

View source version on businesswire.com: http://www.businesswire.com/news/home/20151007006143/en/

Fitch Ratings
Primary Analyst
Douglas Offerman
Senior Analyst
+1-212-908-0889
Fitch Ratings, Inc.
33 Whitehall Street
New York, NY 10004
or
Secondary Analyst
Linda Friedman
Senior Analyst
+1-212-908-0727
or
Media Relations:
Sandro Scenga, +1 212-908-0278
[email protected]

Source: Fitch Ratings

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