Moody's Assigns P-1 to LOC-backed Amtrak CP Program
New York, February 14, 2017-- Moody's Investors Service has assigned a P-1 letter of credit-backed rating to National Railroad Passenger Corporation $500 million Commercial Paper Notes Program. The Notes will be supported by a direct pay letter of credit provided by JPMorgan Chase Bank, N.A.. The rating on the Notes is based upon the LOC provided by the Bank, the structure and legal protections of the transaction, which provide for timely payment of each Note's face amount at...
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