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NEW STUDBOOK ENTRY ONLYRATINGS: Moody\'s: AAA (Insured) Aa3 (Underlying) Fitch: AAA (Insured) AA (Underlying) (See \” RATINGS\” herein.)LN the opinion of Sidney Austin Brown & Wood LLP. San Francisco,
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New issue-book-entry only ratings refer to the evaluations or classifications assigned to newly issued securities that are exclusively available for book-entry transactions, meaning they are recorded electronically and do not have physical certificates.
Issuers of new securities that are being offered as book-entry only must file new issue-book-entry only ratings.
To fill out new issue-book-entry only ratings, the issuer should provide the necessary details of the securities being issued, including terms, conditions, and other relevant financial information, in the designated forms as mandated by the regulatory authority.
The purpose of new issue-book-entry only ratings is to provide investors with credit ratings that can help them assess the risk associated with the newly issued securities, thereby facilitating informed investment decisions.
Information that must be reported includes the security's rating, issuance details, financial condition of the issuer, maturity dates, and any other material information relevant to the investors.
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