TITLE

College Affirmation

AUTHOR(S)
Carvlin, Elizabeth
PUB. DATE
November 2004
SOURCE
Bond Buyer;11/17/2004, Vol. 350 Issue 32012, p31
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that Fitch Ratings Inc. has affirmed its BBB rating for the Wayne County Community College in Detroit, Michigan and removed the negative watch on the credit after the school complied with bond covenants requirements to set aside a bond retirement fund. Fitch downgraded the college in September 2004 to BBB from A-minus. The college established a "custody agreement" with a transfer agent in October in order to meet the set aside requirements for 1999 and 2002 bond document. The district also revised its projections for operations after the September downgrade.
ACCESSION #
15113329

 

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