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Fitch rates Pine Crest bonds AA-/F1+
Fitch Ratings said it assigned a rating of AA-/F1+ to the $75 million series 2008 revenue and refunding revenue bonds issued by Palm Beach County, Fla., for Pine Crest Preparatory School, Inc.
The bonds are expected to be delivered on Aug. 1.
The rating is based on a letter of credit issued by Bank of America NA (rated AA-/F1+ by Fitch).
Proceeds will help finance the expansion of and improvements to a private school located in Palm Beach and Broward Counties and to refund Ft. Lauderdale, Fla.'s series 2002 revenue bonds issued for Pine Crest Preparatory School, Inc.
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