Fitch W/Ds CE Rating on Jacksonville (FL) Transportation Rev Bonds Series 2008B
Fitch Ratings withdraws its 'AA+/F1+' credit enhanced (CE) rating on the Jacksonville (FL) transportation revenue bonds series 2008B.
The long-term rating assigned to the bonds is revised to 'AA-' with a Stable Outlook based on the underlying rating assigned by Fitch to Jacksonville's transportation sales tax revenue bonds.
The rating was based on the support of a letter of credit provided by Wells Fargo Bank, N.A. that was terminated on Oct. 30, 2012.
Additional information is available at 'www.fitchratings.com'. The ratings above were solicited by, or on behalf of, the issuer, and therefore, Fitch has been compensated for the provision of the ratings.
Applicable Criteria and Related Research
--'U.S. Municipal Structured Finance Criteria' (Feb. 28, 2012);
--'Rating Guidelines for Letter of Credit-Supported Bonds' (June 20, 2012).
Applicable Criteria and Related Research:
Rating Guidelines for Letter of Credit-Supported Bonds
U.S. Municipal Structured Finance Criteria
Richard Park, +1 212-908-0289
One State Street Plaza
New York, NY 10004
Trudy Zibit, +1 212-908-0689
Elizabeth Fogerty, +1 212-908-0526