Yes, It's Still Junk

Shields, Yvette
December 2004
Bond Buyer;12/22/2004, Vol. 350 Issue 32035, p31
Trade Publication
The article reports that Moody's Investors Service Inc., has affirmed the St. Lois Industrial Development Finance Authority's below-investment grade credit of B3. The affirmation has come on $98 million of senior-lien convention center hotel bonds, despite of a draw on debt service reserves to cover a payment owed. The draw on reserves for a portion of the debt service payment is a "clear sign of continued credit stress The bonds were sold in 2000 to help finance construction of a new convention center hotel and another hotel both in down town St. Lois.


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