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Fitch Rates $8MM San Gabriel Industrial Devel Corp, Texas Airborn, Inc. 2009 VRDBs 'A+/F1'.

Publication: Telecommunications Weekly
Publication Date: 01-JUL-09
Format: Online
Delivery: Immediate Online Access

Article Excerpt
Fitch Ratings assigns a rating of 'A+/F1' to the $8,000,000 San Gabriel Industrial Development Corporation variable rate demand revenue bonds (Airborn, Inc. Project) series 2009.

The rating is based on the support provided by an irrevocable, direct-pay letter of credit (LOC) issued by Comerica Bank, securing the bonds. The bank is obligated to make payments of principal and interest when due, as well as purchase price for...

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