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TEXT-Fitch takes various rating actions on TOBs
May 30, 2012 / 8:33 PM / 6 years ago

TEXT-Fitch takes various rating actions on TOBs

May 30 - Fitch Ratings has taken various conforming rating actions on tender
option bonds (TOBs) corresponding to actions taken on their associated
enhancement providers or underlying bonds.	
	
Long-term ratings assigned to TOBs are the higher of the ratings assigned by 	
Fitch to the applicable enhancement providers supporting the bonds and the 	
ratings assigned by Fitch to the underlying bonds deposited in the issuing 	
trust. Short-term ratings on TOBs, if assigned, are based on ratings assigned by	
Fitch to their liquidity providers, with consideration given to the TOBs' 	
long-term ratings.(New York Ratings Team)

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