TITLE

Moody's to Discontinue 'Conditional' Prefix for Certain Leased-Back Debt

AUTHOR(S)
Saskal, Rich
PUB. DATE
December 2004
SOURCE
Bond Buyer;12/22/2004, Vol. 350 Issue 32035, p29
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that Moody's Investors Service Inc., a U.S. rating agency will discontinue the practice of attaching a "conditional" claimer to certain lease-revenue bonds and lease-backed certificates. This policy has to be adopted specially in California and Indiana. The ratings agency announced the new policy in a report released. The agency had assigned the conditional prefix to such ratings to indicate that the lessee didn't have a legal obligation to make the lease payments securing the debt until the leased asset was completed and available for the lessee's use.
ACCESSION #
15458123

 

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