Kroll Bond Rating Agency (KBRA) announces the release of the methodology for rating U.S. third party liquidity facility-supported variable rate demand obligations and commercial paper.
The methodology describes the major factors that KBRA considers when assigning a rating to these state and local government-issued obligations. In these instances, an external third party (commercial bank or other financial institution) provides a conditional liquidity facility to support the demand feature (optional or mandatory tender) or CP roll-over.
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If you have any difficulties accessing the report, please contact [email protected] or visit www.kbra.com.