With the Aa1
rating, Moody's once again judged Barrington's debt to be of high quality for investors and a "very low credit risk." Hayden said Barrington has a strong credit profile for a non-home-rule community in Illinois, which helped in the refinancing of the $8.3 million debt.
The change in outlook follows the recent Moody's announcement to revise the Hong Kong government's Aa1
rating outlook to negative from stable.
Lender decided that 100 percent of August closings would go through a post-closing quality-control audit.
Moody's Investors Service has assigned a definitive rating of Aa1
to the Trust Certificates issued by Hong Kong Sukuk 2015 Limited ("the Issuer"), a special purpose vehicle established in Hong Kong by the Government of the Hong Kong Special Administrative Region (HKSAR).
In contrast, Chevron Corporation (Aa1
stable) and TOTAL S.A.
Birmingham's rating will fall in line with the Sovereign rating to Aa1
The decision was driven by "the recent downgrade of France to Aa1
from Aaa and the high correlation in credit risk which Moody's believes is present among the ESFS' and ESM's entities' largest financial supporters," (http://www.moodys.com/research/Moodys-downgrades-ESM-to-Aa1-from-Aaa-and-EFSF-to--PR_261114) the agency said in a news release .
and Prime-1 ratings are considered investment grade and imply "very low credit risk" and "superior" debt servicing capacity, respectively.
Most recently, on July 30, 2010, the agency lowered the rating to Aa1
from Aaa, leaving it on review for further downgrade.
On July 2nd 2009, the agency gave the bonds a Aa1
rating, with a negative outlook.
Using 'Global Automobile Manufacturer Industry' as the principal methodology, the rating is based on various credit support agreements and the 'Aa1
' long-term rating assigned to Toyota Motor Corporation's (NYSE: TM)(Toyota) senior debt.
''This, in turn, means the company's ability to generate stable and exceptionally rich cash flow, which supports its Aa1
rating, may also be increasingly challenged over the intermediate term,'' it said.