Industry | 2009.08.26
Fitch Rates $27.33MM Traill Co., ND (American Crystal Sugar Co.) Ser 2009 Revs 'AA-/F1+'
NEW YORK--(BUSINESS WIRE)--Fitch Ratings assigns a rating of \'AA-/F1+\' to the $27,330,000 Traill County, North Dakota industrial development revenue refunding bonds (American Crystal Sugar Company project), series 2009. The rating is based on the support provided by an irrevocable, direct-pay letter of credit (LOC) issued by CoBank, ACB. The LOC provides full and sufficient coverage of principal, interest equal to 109 days calculated at a maximum rate of 10% based on a year of 365 days, and purc
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