BNET Business Dictionary
Business Definition for: Irrevocable Letter Of Credit
- see Letter Of Credit
Additional Resources
- Letter of Credit (Irrevocable)
- This is a template of letter of credit Irrevocable. A letter of credit is a document issued mostly by a financial institution which usually provides an irrevocable payment undertaking to a beneficiary against complying documents as stated in the Letter of Credit. Irrevocable letter of credit can be neither amended...
- Tools & templates 2007-12-01
- Moody S Assigns Mig 1 Rating To Los Angeles County's Trans Based Upon A Letter Of Credit From Six Banks
- NEW YORK--BUSINESS WIRE--June 22, 1995--Today Moody's Investors Service assigned a MIG 1 to $1.3 billion Los Angeles County Tax and Revenue Anticipation Notes dated July 3, 1995.The notes are secured by an irrevocable letter of credit provided by Credit Suisse as Agent Bank, Morgan Guaranty Trust Company of New York,...
- Research articles 1995-06-22
- Letter Of Credit (General)
- This is a template of letter of credit. A letter of credit is a document issued mostly by a financial institution which usually provides an irrevocable payment undertaking to a beneficiary against complying documents as stated in the Letter of Credit.
- Tools & templates 2007-12-01
- Fitch Rates Sunbelt Funding Corp.'s Credit Enhancement 'A-'
- NEW YORK -- Fitch rates Sunbelt Funding Corp's program-wide credit enhancement, provided in the form of Irrevocable Letter of Credit LOC No. S27479A, 'A-'. The rating reflects the risk to Compass Bank, as credit enhancement provider, of the likelihood of the LOC suffering a loss.
- Research articles 2005-12-30
- Fitch Upgrades Sunbelt Funding Corp.'s Credit Enhancement to 'A'
- NEW YORK -- Fitch upgrades the rating of Sunbelt Funding Corporation's programwide credit enhancement, provided in the form of Irrevocable Letter of Credit LOC No. S27479A, to 'A' from 'A-'. The upgrade reflects the declining probability of any loss suffered by Compass Bank as the LOC provider. The improving credit...
- Research articles 2007-02-23
- Fitch Rates City of Long Beach, CA $35MM Sub Gas Util Rev CP Notes 'F1+'
- NEW YORK -- Fitch assigns an 'F1+' rating to the $35,000,000 City of Long Beach, California subordinate gas utility revenue commercial paper notes the notes, series A and series B taxable. The rating is based on the support provided by an irrevocable letter of credit LOC issued by JPMorgan Chase...
- Research articles 2005-06-30
- Fitch Affirms 'F1+' on City & County of Denver, CO Airport CP Notes A & B
- NEW YORK -- Fitch Ratings affirms the 'F1+' rating assigned to the airport system subordinate commercial paper notes, series A and B the CP notes, issued by the City and County of Denver, Colorado on behalf of its Department of Aviation. The CP notes were initially issued in 2003 and...
- Research articles 2004-08-17
- Fitch Presale Revision: Missouri Highways & Transportation Commission Multi-Modal Road Bonds Series B of 2005 'AA+/F1+'
- NEW YORK -- Fitch Ratings revises to 'AA+/F1+' the rating assigned on July 13, 2005 to the $72,000,000 Missouri Highways and Transportation Commission the commission multimodal third-lien road bonds, series B of 2005. The revised long-term 'AA+' rating is based jointly on the 'AA-' rating assigned to the commission's third-lien...
- Research articles 2005-07-14
- Foremost Industries Inc. Enters a Contract for the Supply of Large Pipeline Repair Vehicles.
- CALGARY, ALBERTA, APR 16, 2001 Foremost Industries Inc. of Calgary, today announced that it has entered a contract for the supply of eighteen (18) large pipeline repair vehicles to Surgutneftegaz of Russia. Foremost Industries announced today that it has entered into a...
- Research articles 2001-04-16
- Fitch Rates Dean's $100 Million CP Program 'F1+'
- CHICAGO -- Fitch Ratings has assigned an 'F1+' rating to Dean Health Systems Inc.'s Dean $100 million commercial paper CP program. The CP is issued by Dean and the program terminates on Dec. 16, 2012. The program is supported by a direct pay, irrevocable letter of credit facility provided by...
- Research articles 2008-08-28
- Fitch Affirms Dean Health Systems' $100MM CP Program at 'F1+'
- CHICAGO -- Fitch Ratings has affirmed Dean Health Systems Inc.'s Dean $100 million commercial paper CP program at 'F1+'. The CP is issued by Dean and the program terminates on Dec. 16, 2012. The program is supported by a direct pay, irrevocable letter of credit facility provided by U.S. Bank,...
- Research articles 2008-10-22
- Deducting accrued vacation pay not paid.
- Firms can deduct accrued vacation pay before actually paying it. A firm bought an irrevocable letter of credit to cover vacation pay owed at end of prior year...did so within 21/2 months after end of the tax year. Deducted vacation pay on that year's return...not yet paid...
- Research articles 1996-11-29
- Moody's Comments on Orange County, California Teeter Bond Credit Quality
- NEW YORK--BUSINESS WIRE--June 23, 1995-- Orange County, California, plans to sell $155 million Teeter Plan Revenue Bonds on June 27 through a newly formed Joint Powers Agency, the Orange County Special Financing Authority. The bonds will be secured by an irrevocable direct-pay letter of credit to be issued by...
- Research articles 1995-06-23
- Fitch Affirms New York City's $25MM 1995 GOs Subseries F-2 at 'AA-/F1+'
- NEW YORK -- Fitch Ratings has affirmed the 'AA-/F1+' rating assigned to the City of New York's $25,000,000 general obligation bonds GOs, Fiscal 1995 Subseries F-2. The rating initially was based on an irrevocable Letter of Credit LOC issued by The Toronto-Dominion Bank. Effective Aug. 12, 2005, the LOC will...
- Research articles 2005-08-12
- Sutron Books $3,183,970 in November
- STERLING, Va. -- Sutron Corporation (NASDAQ:STRN) is pleased to announce official receipt of a highly-anticipated $1,511,594 irrevocable Letter of Credit LOC from the Government of India's IMD India Meteorological Department. The LOC is applicable to IMD's award of a Letter of Credit to Sutron to provide a critically important, extensive...
- Research articles 2005-12-02
- Fitch Rts Michigan Full Faith & Credit GO Notes, Fiscal 2007, Ser A 'F1+'
- NEW YORK -- Fitch Ratings assigns a rating of 'F1+' to the $1,300,000,000 State of Michigan, full faith and credit general obligation notes, fiscal year 2007, series A. The rating is based on the support provided by an irrevocable, direct-pay letter of credit LOC issued by DEPFA BANK plc DEPFA,...
- Research articles 2006-11-27
- Fitch Rates National Jewish, Colorado $13.5MM Bonds 'BBB+'; Outlook Stable
- NEW YORK -- Fitch Ratings has assigned an underlying 'BBB+' rating to the approximately $13.5 million Colorado Health Facilities Authority adjustable-rate revenue bonds National Jewish Medical and Research Center Project, series 2005. The series 2005 bonds are expected to be backed by an irrevocable letter of credit LOC from JP...
- Research articles 2005-01-06
- Fitch Rates Parish of East Baton Rouge $93.4MM Sales Tax Revs Series 2008A 'AAA/F1+'
- NEW YORK -- Fitch Ratings assigns a rating of 'AAA/F1+' to the $93,440,000 the Parish of East Baton Rouge, Louisiana, Road and Street Improvement Sales Tax Revenue Refunding Bonds, Series 2008A. The long-term 'AAA' is based jointly on the Parish of East Baton Rouge, Louisiana (currently rated A+ by Fitch)...
- Research articles 2008-04-07
- Fitch Rates Municipal Electric Authority of Georgia Project One Sub Bnds, Series 2008B 'AAA/F1+'
- NEW YORK -- Fitch Ratings assigns a rating of 'AAA/F1+' to the $148,065,000 Municipal Electric Authority of Georgia's MEAG Project One subordinated bonds, series 2008B the bonds. The long-term 'AA+' rating is based jointly on the long-term 'A+' rating assigned by Fitch to MEAG and the support provided by an...
- Research articles 2008-08-19
- Fitch Rates St. Clair Hospital, Pennsylvania 'A'
- Business Editors Fitch Ratings has assigned an 'A' rating to the $20 million Mt. Lebanon Hospital Authority (Allegheny County, Pennsylvania) hospital revenue bonds, series 2002 (St. Clair Memorial Hospital). In addition, Fitch is expected to assign an 'A+/F1+' rating to the $10 million Mt. Lebanon Hospital Authority (Allegheny County,...
- Research articles 2002-07-02
Neighboring Terms
