National Benevolent Downgraded, With LOC Likely to Fall Through

Shields, Yvette
September 2003
Bond Buyer;9/5/2003, Vol. 345 Issue 31713, p1
Trade Publication
Reports that credit rating agencies Moody's Investors Service Inc. and Fitch Ratings Inc. lowered as of September 5, 2003 ratings of Saint Louis, Missouri-based National Benevolent Association (NBA) from Ba2 to B3 and left it on the negative watch list. Reasons for lowering of the rating of the company; Information on services provided by NBA; Possible implications of the failure of NBA to secure a letter of credit from KBC Bank.


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