CUSIP 121342PE3
- ISIN: US121342PE32
- Entity Name: Development Authority of Burke County
- Sector: Municipal Agency
- Announcement Date: 15-Aug-2018
- Effective Date: 08-Aug-2018
- Issue Date: *****
- Maturity Date: 01-Dec-2049
- Country of Issuer: United States
- Region: N.Amer
- Issue Currency: United States of America Dollars
- CA Type: Rating Downgrade
- News: On August 8, 2018, Moody`s Investors Service, Inc. (""Moody`s"") announced that it had downgraded the issuer and long-term debt rating of Georgia Power Company (""Georgia Power"") to Baal from A3. In addition, Moody`s announced that it had downgraded the variable rate demand obligation ratings of Georgia Power to VMIG-3 from VMIG-2. Moody`s also placed Georgia Power`s ratings on review for downgrade. On August 14, 2018, Moody`s announced that it had upgraded the variable rate demand obligation ratings of Georgia Power to VMIG-2 from VMIG-3. Since Georgia Power is the obligor with respect to each series of the revenue bonds identified above (the ""Bonds""), on August 8, 2018, Moody`s downgraded the long-term rating of the Bonds to Baal from A3. The Bonds which are in variable rate mode also carry shortterm ratings, so the short-term rating of those Bonds was also downgraded to VMIG-3 from VMIG-2 on August 8, 2018. On August 14, 2018, the short-term rating of the Bonds in variable rate mode was upgraded to VMIG-2 from VMIG-3. On August 9, 2018, Fitch Ratings, Inc. (""Fitch"") announced that it had downgraded the long-term debt rating of Georgia Power to A- from A. In addition, Fitch announced that it had placed Georgia Power`s ratings on negative watch. Since Georgia Power is the obligor with respect to the Bonds, Fitch downgraded the Bonds to A-/F2 from NF2.
- Description: Municipal Name: Development Authority of Burke County CUSIP: 121342PE3 Currency: USD Development Authority of Burke County announced today that the Moody`s Investors Service has downgraded the issuer and long-term debt ratings of the Series 2012, Pollution Control Revenue Bonds from A3 to Baa1 on August 8, 2018.
- Bond Document: https://www.bondpdf.com/
- Latest Corporate Actions: https://www.CAalerts.com/credit-corporate-action/ISIN/US121342PE32
