KEY RATING DRIVERS:
On the effective date, the rating will be based on the support provided by the substitute LOC issued by Wells Fargo.
Pursuant to the substitute LOC, the bank is obligated to make regularly scheduled payments of principal of and interest on the bonds in addition to payments due upon maturity, acceleration and redemption, as well as purchase price for tendered bonds. The rating will expire upon the earliest of: (a)
The rating is exclusively tied to the short- and long-term rating that Fitch maintains on the bank providing the substitute LOC and will reflect all changes to that rating.
Additional information is available at www.fitchratings.com.
--'U.S. Municipal Structured Finance Criteria',
--'Rating Guidelines for Letter of Credit-Supported Bonds and Commercial Paper',
U.S. Municipal Structured Finance Criteria
Rating Guidelines for Letter of Credit-Supported Bonds and Commercial Paper
Source: Fitch Ratings
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