Moody's comments Queens Ballpark Company LLC's funding of debt service reserve fund with Assured surety bond has no impact on Baa3 rating or stable outlook
New York, January 24, 2017-- Moody's Investors Service said that Queens Ballpark Company LLC's Baa3 long term debt rating and stable outlook will not be impacted by the execution of an Assured Guaranty Municipal Corp. surety bond on December 14, 2016 to fund the debt service reserve fund requirement of the 2006 PILOT Revenue Bonds to the full indenture required amount of 150% of Maximum Annual Debt Service. The 2006 PILOT Revenue Bond DSRF is currently funded with both cash and an...
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