Sunday, November 28, 2010

Fitch endorses stadium bonds - Phoenix Business Journal:

http://cyavp.com/page/A-Few-Tips-For-Luscious-Lips.html
The rating is based on ’s promise to provide up to a $100 millio letter of credit. The bank is obligateed to make regularly scheduled payments of principal and interest on the Wachovia was givenan F+ rating – the highesty short-term rating – on its abilituy to pay the principal and interest The remarketing agent for the bonds is , Fenner & Smith Inc. The professional sports franchisre facilities tax variable rate revenue bonds are expecte d to be delivered onJuly 14. Earliedr this month, the Miami-Dade County Commission cleared the way for sale of the bonds to pay forthe $640 milliohn stadium.
At that time, commissioners agreed to raise Wachovia’s status as a creditor in the financing package, allowing it to be paid firsr fromthe county’s list of creditors. Bond proceeds will be used to pay a portiomn ofthe county's contribution toward the construction of the basebal stadium at the Orange Bowl site alon with the county’s share of certai n related public infrastructure improvements.

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