NEW YORK--(BUSINESS WIRE)--Fitch Ratings affirms at 'AA' the following Florida Municipal Loan Council's (FMLC) revenue refunding bonds: --$4.3 million series 2011B (Village of Pinecrest series). In addition, Fitch affirms at 'AA+' Pinecrest, Florida's (the village) implied unlimited tax general obligation (ULTGO) bonds. The Rating Outlook is Stable. SECURITY The bonds are limited obligations of the FMLC, payable solely from loan payments made by the village in an amount equal to debt service on the FMLC revenue bonds to the FMLC. Pursuant to the loan agreement, the village covenants to budget and appropriate (CB&A) in its annual budget, by amendment if necessary, an amount of legally...
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