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Article: Fitch Rts $3.1MM Toledo-Lucas Cnty Port Auth, OH Bond Fund Revs `BBB+'; Removes from Rtg Neg Watch.
- Article from:
- Business Wire
- Article date:
- June 17, 2004
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CHICAGO -- Fitch Ratings assigns a 'BBB+' rating to the Toledo-Lucas County Port Authority, OH (the authority) Northwest Ohio Bond Fund (the bond fund), $3.1 million development revenue bonds series 2004B. The 2004B bonds will be offered by Robert W. Baird & Co. Inc. during the week of June 28. Fitch affirms and removes from Rating Watch Negative its 'BBB+' rating on the bond fund's outstanding $78 million of revenue bonds. The Rating Outlook is Stable.
The bond fund was placed on Rating Watch Negative on March 1, 2004, reflecting two loan defaults and one borrower bankruptcy in the bond fund's portfolio within the last several years, as well as late borrower ...