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East Baton Rouge (Parish of) LA, Ind Dev Bd - Moody's Research Report

MOODY'S UPGRADES TO Aa2/P-1 FROM Aa3/VMIG 1 LETTER OF CREDIT-BACKED RATING OF IND DEV BOARD PARISH OF EAST BATON ROUGE, LOUISIANA, INC. SOLID WASTE DISPOSAL REV BONDS (GEORGIA-PACIFIC CORP), SERIES 2004

Posted on: July 6, 2011, 1:45 pm

NEW YORK, Jul 6, 2011 -- Moody's Investors Service has upgraded to Aa2 /P-1 from Aa3 /VMIG 1 the rating of the Industrial Development Board of the Parish of East Baton Rouge, Louisiana, Inc. Solid Waste Disposal Revenue Bonds (Georgia-Pacific Corporation Project), Series 2004 (the Bonds) in conjunction with the substitution of the current letter of credit securing the Bonds provided by Bank of America, N.A. with a new direct-pay letter of credit provided by BNP Paribas (the Bank) effective July 6, 2011. The long term rating on the Bonds is on watch for possible downgrade...

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