Fitch gives AA/F1+ to Wayne County airport bonds

Fitch Ratings said it assigned an AA/F1+ rating to $331.625 million in airport revenue refunding bonds issued by the Wayne County Airport Authority, Mich.

The rating applies to the $201.25 million series 2008B, $90.865 million series 2008C and $39.51 million series 2008D.

Proceeds will be used to refund all the authority's series 2003A, 2003B, 2003C and 2004 bonds.

The ratings are based on letters of credit from Landesbank Baden-Wurttenberg (for series 2008B) and Wachovia Bank (for series 2008C and 2008D). Both banks are rated A+/F1+ by Fitch, which rates the airport authority A.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.