Tobacco Settlement asset-backed bonds capital appreciation bonds
NEW YORK -- Fitch Ratings upgrades two classes of capital appreciation bonds
from New York Counties Tobacco Trust V Series 2005, as follows:
Dale filed a bill this week aimed at restricting how school districts can issue capital appreciation bonds
The bonds are structured as capital appreciation bonds
that convert to pay interest on a semi-annual basis commencing March 1, 2017.
10,670,013 series 2006B first subordinate capital appreciation bonds
due June 1, 2046 downgraded to 'B-sf' from 'BB-sf'; removed from Negative Watch and assigned a Negative Outlook;
NEW YORK -- The issuance of capital appreciation bonds
(CABs) is fairly common in municipal finance, particularly for issuers in rapidly growing areas.
7 /PRNewswire/ -- The Kansas Development Finance Authority's Kansas Board of Regents -- comprehensive rehabilitation and repair project revenue bonds, series 1997G, $105,880,000 current interest bonds and about $6,000,000 capital appreciation bonds
are rated 'AA-' by Fitch.
2006A capital appreciation bonds
downgraded to 'BB-' from 'BBB'; Outlook Negative;
15, 2009 through 2019 and $111,000 premium capital appreciation bonds
(CABs) maturing Aug.
15, 2000-2002, and $4,813,000 premium capital appreciation bonds
(CABs), maturing Feb.
Specifically, some long-term turbo bonds and many capital appreciation bonds
are at risk for a downgrade, mostly in the range of one to three notches.
NEW YORK -- Fitch Ratings assigns a rating of 'AA-', with a Negative Rating Outlook to the Deutsche Bank Custodial Receipts, Series DBE-330A-E, relating to Manteca Unified School District, County of San Joaquin, California General Obligation Bonds, Election of 2004, Series 2006 Capital Appreciation Bonds
(Non-AMT) (underlying bond).
The capital appreciation bonds
(CABs) including the convertible CAB are downgraded to the 'B' category, reflecting the higher breakeven increase produced by the model and the longer tenor.
Series 1996A current interest bonds will be due June 1, 1999-2013, with capital appreciation bonds
due semi-annually Dec.
NEW YORK -- Fitch Ratings assigns a rating of 'AA-' with a Negative Rating Outlook to the Deutsche Bank Custodial Receipts, series DBE-288A, DBE-288B, and DBE-288C relating to Metropolitan Pier and Exposition Authority (Illinois) McCormick Place Expansion Project refunding bonds, series 2002A capital appreciation bonds