{"id":53958,"date":"2022-07-12T18:26:25","date_gmt":"2022-07-12T22:26:25","guid":{"rendered":"https:\/\/thelehighacresgazette.com\/news\/?p=53958"},"modified":"2022-07-12T18:26:29","modified_gmt":"2022-07-12T22:26:29","slug":"fitch-withdraws-ratings-on-florida-governmental-utility-authority-maturities","status":"publish","type":"post","link":"https:\/\/thelehighacresgazette.com\/news\/2022\/07\/fitch-withdraws-ratings-on-florida-governmental-utility-authority-maturities\/","title":{"rendered":"Fitch Withdraws Ratings on Florida Governmental Utility Authority Maturities"},"content":{"rendered":"\n<p>Fitch Ratings &#8211; New York &#8211; 11 Jul 2022: Fitch Ratings has withdrawn its ratings for the following bonds due to prerefunding activity:<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/thelehighacresgazette.com\/news\/wp-content\/uploads\/2022\/07\/cropped-fgua-logo.png\" alt=\"\" class=\"wp-image-53959\" width=\"468\" height=\"344\" srcset=\"https:\/\/thelehighacresgazette.com\/news\/wp-content\/uploads\/2022\/07\/cropped-fgua-logo.png 900w, https:\/\/thelehighacresgazette.com\/news\/wp-content\/uploads\/2022\/07\/cropped-fgua-logo-300x221.png 300w, https:\/\/thelehighacresgazette.com\/news\/wp-content\/uploads\/2022\/07\/cropped-fgua-logo-768x565.png 768w\" sizes=\"(max-width: 468px) 100vw, 468px\" \/><\/figure><\/div>\n\n\n<p>&#8212; Florida Governmental Utility Authority (FL) utility revenue bonds series 2013A (prerefunded maturities only &#8211; 34281PQF3, 34281PQG1, 34281PQH9, 34281PQJ5). Previous Rating: &#8216;A&#8217;\/Stable.<\/p>\n\n\n\n<p>The rating is being withdrawn because the bonds have been prerefunded.<\/p>\n\n\n\n<p>Pre-refunding is\u00a0<strong>a strategy used by corporations to effectively refinance their outstanding debt<\/strong>. In the interim period between the initial issue and the subsequent\u00a0callable bond\u00a0issue, proceeds are held in safe Treasury securities.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">REFERENCES FOR SUBSTANTIALLY MATERIAL SOURCES CITED AS KEY DRIVERS OF RATING<\/h3>\n\n\n\n<p>The principal sources of information used in the analysis are described in the Applicable Criteria.<\/p>\n\n\n\n<p>VIEW ADDITIONAL RATING DETAILS<\/p>\n\n\n\n<p>Additional information is available on&nbsp;<a href=\"http:\/\/www.fitchratings.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">www.fitchratings.com<\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">PARTICIPATION STATUS<\/h3>\n\n\n\n<p>The rated entity (and\/or its agents) or, in the case of structured finance, one or more of the transaction parties participated in the rating process except that the following issuer(s), if any, did not participate in the rating process, or provide additional information, beyond the issuer\u2019s available public disclosure.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">ADDITIONAL DISCLOSURES<\/h3>\n\n\n\n<ul><li><a href=\"https:\/\/www.fitchratings.com\/research\/us-public-finance\/fitch-withdraws-ratings-on-florida-governmental-utility-authority-maturities-11-07-2022#solicitationStatus\">Solicitation Status<\/a><\/li><li><a href=\"https:\/\/www.fitchratings.com\/research\/us-public-finance\/fitch-withdraws-ratings-on-florida-governmental-utility-authority-maturities-11-07-2022#endorsement-policy\">Endorsement Policy<\/a><\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">ENDORSEMENT STATUS<\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td>Florida Governmental Utility Authority (FL)<\/td><td>EU Endorsed, UK Endorsed<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">DISCLAIMER &amp; DISCLOSURES<\/h3>\n\n\n\n<p>All Fitch Ratings (Fitch) credit ratings are subject to certain limitations and disclaimers. Please read these limitations and disclaimers by following this link:&nbsp;<a href=\"https:\/\/www.fitchratings.com\/UNDERSTANDINGCREDITRATINGS\" target=\"_blank\" rel=\"noreferrer noopener\"><\/a><a href=\"https:\/\/www.fitchratings.com\/understandingcreditratings\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/www.fitchratings.com\/understandingcreditratings<\/a>. In addition, the following<\/p>\n\n\n\n<p>READ MORE<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">SOLICITATION STATUS<\/h3>\n\n\n\n<p>The ratings above were solicited and assigned or maintained by Fitch at the request of the rated entity\/issuer or a related third party. Any exceptions follow below.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">ENDORSEMENT POLICY<\/h3>\n\n\n\n<p>Fitch\u2019s international credit ratings produced outside the EU or the UK, as the case may be, are endorsed for use by regulated entities within the EU or the UK, respectively, for regulatory purposes, pursuant to the terms of the EU CRA Regulation or the UK Credit Rating Agencies (Amendment etc.) (EU Exit) Regulations 2019, as the case may be. Fitch\u2019s approach to endorsement in the EU and the UK can be found on Fitch\u2019s&nbsp;<a href=\"https:\/\/www.fitchratings.com\/regulatory\">Regulatory Affairs<\/a>&nbsp;page on Fitch\u2019s website. The endorsement status of international credit ratings is provided within the entity summary page for each rated entity and in the transaction detail pages for structured finance transactions on the Fitch website. These disclosures are updated on a daily basis.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.fitchratings.com\/us-public-finance\">US Public Finance<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/www.fitchratings.com\/infrastructure-project-finance\">Infrastructure and Project Finance<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/www.fitchratings.com\/region\/north-america\">North America<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/www.fitchratings.com\/region\/united-states\">United States<\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">ENTITIES<\/h3>\n\n\n\n<ul><li><a href=\"https:\/\/www.fitchratings.com\/entity\/florida-governmental-utility-authority-fl-lake-aqua-utility-system-credit-summary-96770288\">Florida Governmental Utility Authority (FL) [Lake Aqua Utility System]<\/a><\/li><li><a href=\"https:\/\/www.fitchratings.com\/entity\/florida-governmental-utility-authority-fl-65360\">Florida Governmental Utility Authority (FL)<\/a><\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">ISSUER CONTENT<\/h3>\n\n\n\n<ul><li><a class=\"\" href=\"https:\/\/www.fitchratings.com\/research\/us-public-finance\/fitch-withdraws-ratings-on-certain-florida-governmental-utility-authority-maturities-12-07-2022\">Fitch Withdraws Ratings on Certain Florida Governmental Utility Authority Maturities<\/a><\/li><li><a href=\"https:\/\/www.fitchratings.com\/research\/us-public-finance\/florida-governmental-utility-authority-fl-unified-utility-system-esg-navigator-31-07-2020\">Florida Governmental Utility Authority (FL) [Unified Utility System] &#8211; ESG Navigator<\/a><\/li><li><a class=\"\" href=\"https:\/\/www.fitchratings.com\/research\/us-public-finance\/fitch-upgrades-florida-govt-utility-auth-unified-utility-revs-bonds-to-a-outlook-stable-30-07-2020\">Fitch Upgrades Florida Govt Utility Auth (Unified) Utility Revs Bonds to &#8216;A&#8217;; Outlook Stable<\/a><\/li><li><a class=\"\" href=\"https:\/\/www.fitchratings.com\/research\/us-public-finance\/fitch-upgrades-florida-govt-utility-auth-consolidated-utility-revs-bonds-to-a-outlook-stable-24-07-2020\">Fitch Upgrades Florida Govt Utility Auth (Consolidated) Utility Revs Bonds to &#8216;A&#8217;; Outlook Stable<\/a><\/li><li><a href=\"https:\/\/www.fitchratings.com\/research\/us-public-finance\/florida-governmental-utility-authority-fl-lake-aqua-utility-system-esg-navigator-20-07-2020\">Florida Governmental Utility Authority (FL) [Lake Aqua Utility System] &#8211; ESG Navigator<\/a><\/li><li><a href=\"https:\/\/www.fitchratings.com\/research\/us-public-finance\/florida-governmental-utility-authority-fl-lehigh-system-esg-navigator-20-07-2020\">Florida Governmental Utility Authority (FL) [Lehigh System] &#8211; ESG Navigator<\/a><\/li><li><a class=\"\" href=\"https:\/\/www.fitchratings.com\/research\/us-public-finance\/fitch-upgrades-florida-govt-utility-auth-lake-aqua-utility-revs-bonds-to-a-outlook-stable-15-07-2020\">Fitch Upgrades Florida Govt Utility Auth (Lake Aqua) Utility Revs Bonds to &#8216;A&#8217;; Outlook Stable<\/a><\/li><li><a class=\"\" href=\"https:\/\/www.fitchratings.com\/research\/us-public-finance\/fitch-upgrades-florida-govt-utility-auth-lehigh-utility-revs-bonds-to-a-outlook-stable-15-07-2020\">Fitch Upgrades Florida Govt Utility Auth (Lehigh) Utility Revs Bonds to &#8216;A+&#8217;; Outlook Stable<\/a><\/li><li><a class=\"\" href=\"https:\/\/www.fitchratings.com\/research\/us-public-finance\/fitch-withdraws-ratings-on-certain-us-municipal-bond-maturities-09-07-2020\">Fitch Withdraws Ratings on Certain U.S. Municipal Bond Maturities<\/a><\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Fitch Ratings &#8211; New York &#8211; 11 Jul 2022: Fitch Ratings has withdrawn its ratings for the following bonds due to prerefunding activity: &#8212; Florida Governmental Utility Authority (FL) utility&hellip; <\/p>\n","protected":false},"author":8,"featured_media":53959,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[57,32],"tags":[1426],"_links":{"self":[{"href":"https:\/\/thelehighacresgazette.com\/news\/wp-json\/wp\/v2\/posts\/53958"}],"collection":[{"href":"https:\/\/thelehighacresgazette.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thelehighacresgazette.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thelehighacresgazette.com\/news\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/thelehighacresgazette.com\/news\/wp-json\/wp\/v2\/comments?post=53958"}],"version-history":[{"count":1,"href":"https:\/\/thelehighacresgazette.com\/news\/wp-json\/wp\/v2\/posts\/53958\/revisions"}],"predecessor-version":[{"id":53960,"href":"https:\/\/thelehighacresgazette.com\/news\/wp-json\/wp\/v2\/posts\/53958\/revisions\/53960"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/thelehighacresgazette.com\/news\/wp-json\/wp\/v2\/media\/53959"}],"wp:attachment":[{"href":"https:\/\/thelehighacresgazette.com\/news\/wp-json\/wp\/v2\/media?parent=53958"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thelehighacresgazette.com\/news\/wp-json\/wp\/v2\/categories?post=53958"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thelehighacresgazette.com\/news\/wp-json\/wp\/v2\/tags?post=53958"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}