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Article: Fitch Rates Rhode Island Convention Center Authority's $35MM Rfdg Revs 'AA-'.
- Article from:
- Business Wire
- Article date:
- August 9, 2005
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NEW YORK -- Fitch Ratings has assigned an underlying 'AA-' rating to the Rhode Island Convention Center Authority's (the authority) $35 million refunding revenue bonds, 2005 series A. Fitch also affirms the 'AA-' rating of $167.5 million outstanding convention center authority bonds. The 2005 series A bonds will be insured by Financial Security Assurance Inc. (FSA), whose insurer financial strength is rated 'AAA' by Fitch. The bonds are expected by negotiation through a syndicate led by Merrill Lynch & Co. as early as August 11. Bond proceeds will be used to refund 1993 series C bonds.
Security for the bonds derives from lease rental payments made by the state, ...