S&P rates Northwind notes AAA

Standard & Poor's said it assigned an AAA senior secured debt rating to the $800 million floating-rate insured notes issued by Northwind Holdings LLC.

The rating is based on the AAA financial enhancement rating on MBIA Insurance Corp., which will issue a financial guaranty insurance policy that guarantees the timely payment of scheduled interest payments on the notes and the repayment of principal on the legal final maturity date in October 2037, according to the agency.

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