NEW YORK--(BUSINESS WIRE)--On Nov. 27, 2013, Fitch Ratings will assign a rating of 'F1' to the City of Jacksonville, Florida's commercial paper (CP) notes, series A (notes). The notes are currently outstanding and supported by a letter of credit (LOC) issued by Landesbank Baden-Wurttemberg (rated 'A+/F1+', Stable Outlook). Fitch will be assigning a rating to the notes for the first time in connection with the provision of the substitute LOC to be provided by Barclays Bank PLC. KEY RATING DRIVERS: The 'F1' rating assigned to the notes will be based on the support provided by an irrevocable direct-pay LOC issued by Barclays Bank PLC (rated 'A/F1', Stable Outlook). The LOC provides coverage for...
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