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Article: Fitch Rates Charlotte, North Carolina's Refunding GOs 'AAA'.
- Article from:
- Health & Beauty Close-Up
- Article date:
- October 15, 2009
CopyrightCOPYRIGHT 2009 Close-Up Media, Inc. 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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Fitch Ratings assigns an 'AAA' rating to the following City of Charlotte, North Carolina (the city) refunding general obligation (GO) bonds:
--Approximately $118 million series 2009B;
--$90 million series 2009C.
Proceeds of the series 2009B bonds will take out the city's outstanding GO commercial paper (CP) and the series 2009C bonds will refund the outstanding variable-rate 2007 bonds and fund the swap termination payment. The bonds are scheduled to price via negotiation on Oct. 20. In addition, Fitch affirms the 'AAA' rating on the city's outstanding GO bonds. The Rating Outlook is Stable.
The 'AAA' GO rating reflects Charlotte's ...