NEW YORK--(BUSINESS WIRE)--Fitch Ratings withdraws the 'AAA/F1+' ratings on the following general obligation (GO) bonds of the State of Texas:
--GO veterans housing assistance program fund II bonds series 2007A;
--GO veterans housing assistance program fund II bonds series 2008A.
In addition, Fitch withdraws the 'AAA' rating on bank bonds associated with the series 2008A bonds above.
The short-term ratings on the series 2007A bonds were based on a standby bond purchase agreements (SBPA) with State Street Bank and Trust Company, which expires today. The short-term ratings on the series 2008A bonds were based on a SBPA with the Bank of Tokyo-Mitsubishi, which also expires today. The long-term ratings on both bonds and on the bank bonds associated with series 2008A were based on the GO credit quality of the State of Texas. The withdrawal is based on the bonds' being taken private upon expiration of the SBPAs noted earlier.
Additional information is available at 'www.fitchratings.com'.