OREANDA-NEWS. S&P Global Ratings today affirmed its 'AA+/A-1+' rating on The Dennis Wesley Co. Inc.'s $5.8 million variable-rate multiple draw taxable demand notes series 2015, due Feb. 15, 2035.

Today's affirmation follows our review of documents related to upcoming substitutions of letters of credit (LOCs), which support the transaction, with new LOCs from the same banks. The long - and short-term components of our rating on the series 2015 notes currently reflect the higher of our long - and short-term issuer credit ratings on the fronting LOC provider, Centra Credit Union (not rated), and the confirming LOC provider, the Federal Home Loan Bank of Indianapolis (FHLBI; 'AA+/A-1+').

As of the substitution date, scheduled for Oct. 17, 2016, the long - and short-term components of our rating on the series 2015 notes will reflect the higher of our long - and short-term issuer credit ratings on the replacement fronting and confirming LOC providers.