S&P lowers Syracuse, N.Y., Carousel Center bonds

Standard & Poor's said it lowered its ratings to A- on the $325 million of class A and B Pilot revenue bonds from Syracuse Industrial Development Agency, N.Y.'s (Carousel Center Project) series 2007A and taxable 2007B.

The ratings remain on CreditWatch negative, where they were placed on Jan. 31.

The downgrades are a result of S&P's lowering of the financial enhancement rating on XL Capital Assurance Inc.

S&P said the BBB- underlying rating on the bonds is unchanged.

© 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.