NEW YORK--(BUSINESS WIRE)--Fitch Ratings has taken various conforming rating actions on enhanced municipal bonds corresponding to actions taken on their associated enhancement providers or underlying bonds.
Long-term ratings on enhanced municipal bonds may be higher than those of their enhancement providers as discussed in Fitch's 'Dual-Party Pay Criteria for Long-Term Ratings on LOC-Supported U.S. Public Finance Bonds', dated March 8, 2013.
Short-term ratings on enhanced municipal bonds may be lower than those of their liquidity providers, as discussed in Fitch's 'Rating Guidelines for Variable-Rate Demand Obligations Issued with External Liquidity Support', dated Jan. 27, 2014.
Please see the corresponding spreadsheet for a full list of rating actions.
Additional information is available at 'www.fitchratings.com'.
Applicable Criteria and Related Research:
--'Rating Guidelines for Letter of Credit-Supported Bonds and Commercial Paper' (June 2, 2014);
--'Rating Guidelines for Variable-Rate Demand Obligations and Commercial Paper Issued with External Liquidity Support' (Jan. 27, 2014);
--'Dual-Party Pay Criteria For Long-Term Ratings on LOC-Supported U.S. Public Finance Bonds' (March 8, 2013).
Applicable Criteria and Related Research: Fitch Takes Various Rating Actions on Enhanced U.S. Municipal Bonds
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=822768
Additional Disclosure
Solicitation Status
http://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=932515
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