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(redirected from Bond anticipation note)

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ban
quercusincana.


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76 million in bond anticipation notes, Moody's Investor Services and Standard & Poor's reaffirmed the city's favorable credit ratings.
Intended to streamline and modernize municipal finance, the Revised Municipal Finance Act (Act 34) authorizes the use of several new types of securities, including bond anticipation notes (BANs), grant anticipation notes (GANs), and limited tax general obligation bonds.
Chief credit concerns include added financial exposure resulting from future termination payments in the event the swaption is exercised and the district's ability to access the short-term market to sell the proposed bond anticipation notes upon exercise of the swaption.
 
 
 
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