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Fitch rates Orange County TRANs F1+
Fitch Ratings said it assigned an F1+ rating to Orange County, Calif.'s $80 million 2008-2009 tax and revenue anticipation notes.
The notes are scheduled for negotiated sale on Aug. 21 and will mature on June 30, 2009. Proceeds will supplement the county's cash flow needs during fiscal year 2009.
Fitch also affirmed its AA- rating on $32.7 million series 2006 lease revenue bonds, $327.1 million series 2005 lease revenue refunding bonds and $57.8 million series 2002 lease revenue bonds issued by the Orange County Public Financing Authority; as well as $106.8 million in series 2005 Orange County refunding recovery bonds and $70.3 million Orange County taxable pension obligation bonds (economically defeased in 2000).
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