Watch Implications On Eight Ratings From Eight CVS-Related CMBS Deals Revised To Developing Feb 07
- ID: 1721160
- February 2007
- Standard & Poors
NEW YORK (Standard & Poor's) Feb. 14, 2007--Standard & Poor's Ratings Services today revised the CreditWatch implications of its ratings on eight classes of certificates from eight CVS Corp.-related CMBS transactions to developing from positive (see list). Credit tenant lease loans secured by properties leased to CVS Corp. (BBB+/Watch Dev/A-2) collateralize these transactions. CVS guarantees the underlying lease payments. As such, the ratings on the transactions are wholly dependent on the corporate credit rating of CVS, which was revised to CreditWatch developing from CreditWatch positive Feb. 13, 2007. RATINGS PLACED ON CREDITWATCH DEVELOPING CVS Credit Lease Backed Pass-Through Certificates Rating Class To From A-1 BBB+/Watch Dev BBB+/Watch Pos CVS Lease Pass-Through Trust 2001 7.77% pass-through certificates due Jan. 10, 2012...
Companies mentioned in this report are:
- CVS Credit Lease Backed Pass-Through Certificates
- CVS Health Corp.
- CVS Pass-Through Certificates
- CVS Lease Pass-Through Trust 2003
- CVS Lease Pass-Through Trust 2005
Action: On CreditWatch:Developing
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Research type: News
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