S&P: Middlesex County Improvement Authority, NJ 2001 Revenue Bond Outlook Revised To Negative; 'AA-' Rating Affirmed
"The rating reflects our view of the strong credit quality of the assets and credit support underlying the issue," said S&P Global Ratings credit analyst Renee Berson, "while the negative outlook reflects the outlook on HSBC Bank USA N. A." Bond fund balances are held pursuant to a repurchase agreement with HSBC Bank USA (AA-/Negative). The rating on the bonds is capped at 'AA-/Negative', reflecting the rating on HSBC Bank USA.