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Article: Fitch Rates Pinal County, AZ MPC $62.1MM COPs 'A'.
- Article from:
- Business Wire
- Article date:
- October 28, 2004
CopyrightCOPYRIGHT 2004 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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AUSTIN -- Fitch Ratings has assigned an 'A' rating to the Pinal County, Arizona Municipal Property Corporation $62.1 million certificates of participation (COPs), series 2004. Additionally, the rating on $28.6 million of the outstanding corporation, series 2001, COPs is upgraded to 'A' from 'A-' by Fitch. The COPs are scheduled for a negotiated sale through Stone & Youngberg LLC the week of Nov. 15. It is anticipated that the COPs will be insured by MBIA Insurance Corporation, whose insurer financial strength is rated 'AAA' by Fitch. The Rating Outlook is Stable.
The COPs will be payable primarily from lease payments from the county to the trustee, which is ...
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