Fitch Ratings withdraws its 'F1' rating on the following notes:
-- Long Island Power Authority (NY) commercial paper notes series CP-1.
The rating was based on the support of a letter of credit issued by JPMorgan Chase Bank, N.A. that was terminated on Jan. 27, 2015.
In addition, Fitch withdraws its 'F1+' rating on the following notes:
-- Long Island Power Authority (NY) commercial paper notes series CP-2;
-- Long Island Power Authority (NY) commercial paper notes series CP-3.
The rating for the CP-2 notes was based on the support of a letter of credit issued by Wells Fargo Bank, N.A. that was terminated on Jan. 27, 2015. The rating for the CP-3 notes was based on the support of a letter of credit issued by State Street Bank and Trust Company that was terminated on Jan. 27, 2015.
Additional information is available at 'www.fitchratings.com'.
Applicable Criteria and Related Research
--'Rating Guidelines for Letter of Credit-Supported Bonds and Commercial Paper' (June 2, 2014).
Applicable Criteria and Related Research:
Rating Guidelines for Letter of Credit-Supported Bonds and Commercial Paper
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=749431
Additional Disclosure
Solicitation Status
http://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=978728
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