Moody's Assigns A1/VMIG 1 to LOC-Backed Lancaster, NY Revenue Bonds 2016 Sealing Devices Inc. Project
New York, December 19, 2016-- Moody's Investors Service has assigned A1/VMIG 1 ratings to the letter of credit backed Town of Lancaster Industrial Development Agency Adjustable Rate Demand Industrial Development Revenue Bonds,. HSBC Bank USA, National Association provides the letter of credit supporting the Bonds. The ratings are based upon the direct-pay LOC provided by the Bank, the structure and legal protections of the transaction which provide for timely payment of debt...
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