Tue, June 28, 2011
Mon, June 27, 2011
Sun, June 26, 2011
Fri, June 24, 2011
Thu, June 23, 2011
Wed, June 22, 2011
Tue, June 21, 2011
[ Tue, Jun 21st 2011 ]: Market Wire
00 AM
Mon, June 20, 2011
Sun, June 19, 2011
Sat, June 18, 2011
Fri, June 17, 2011
Thu, June 16, 2011
Wed, June 15, 2011
Tue, June 14, 2011

Fitch Affirms Bank of the Cascades's FDIC Guaranteed Debt 'AAA/F1+'


  Copy link into your clipboard //business-finance.news-articles.net/content/201 .. -the-cascades-s-fdic-guaranteed-debt-aaa-f1.html
  Print publication without navigation Published in Business and Finance on by Market Wire
          🞛 This publication is a summary or evaluation of another publication

NEW YORK--([ BUSINESS WIRE ])--Fitch Ratings has affirmed Bank of the Cascades' ratings for debt issued through the FDIC Temporary Liquidity Guarantee Program (TLGP) at 'AAA/F1+'. Specifically, Bank of the Cascades, a subsidiary of Cascade Bancorp (NASDAQ: CACB), issued $26 million of senior unsecured debt under the TLGP. The fixed rate debt issue will mature in February 2012.

Obligations under the TLGP program bear the full faith and credit of the U.S. Government, hence these issues are rated the same as the U.S. Sovereign Long-term and Short-term foreign currency at 'AAA/F1+', respectively. The FDIC guarantee expires at the earlier of the instrument's maturity or by June 30, 2012.

Fitch affirms the following ratings:

Bank of the Cascades debt issued under the FDIC TLGP:

--Long-term FDIC guaranteed debt 'AAA';

--Short-term FDIC guaranteed debt 'F1+'.

Applicable criteria available on Fitch's website at [ www.fitchratings.com ]: 'Sovereign Rating Methodology', dated August 16, 2010.

Additional information is available at '[ www.fitchratings.com ]'.

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: [ HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS ]. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE '[ WWW.FITCHRATINGS.COM ]'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE.


Publication Contributing Sources