Black & Veatch Holding Co.'s taxable lease-backed revenue bonds (series 1995, classes A and B) were downgraded by Fitch Ratings to BB+ from BBB-. These downgrades come as a result of Fitch Ratings lowering its internal credit assessment of Black & Veatch, once owners and still sole tenant of 11401 Lamar Ave. in Overland Park, KS. In May 1995, the issuer purchased the 273,288-square-foot office building from Black & Veatch in a sale-leaseback, leasing the property to Overland Property Investors LP who immediately subleased the entire building back to Black & Veatch. Leasehold interest was sold to Southland-Overland Park Delaware Business Trust. These bonds are secured by the leasehold mortgage to the trustee, all security interest in the construction fund of the property, title policies, sublease agreement, and assignments of the construction bond, agency agreement, lease, and sublease. All sublease payments made by Black & Veatch Holding have been the method of repayment for the bonds.