Preliminary 'BBB+' Rating Assigned To $494.1 Million CVS Lease-Backed Pass-Through Series 2011 Trust Certificates Dec 11
- Language: English
- Published: December 2011
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Research type: News
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NEW YORK (Standard & Poor's) March 23, 2007--Standard & Poor's Ratings Services today affirmed its ratings on eight classes of certificates from eight CVS Corp.-related CMBS transactions and removed them from CreditWatch negative, where they were placed on March 9, 2007. The outlook is stable (see list). Credit tenant lease loans secured by properties leased to CVS Corp. (BBB+/Stable/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 on CVS, which we affirmed and removed from CreditWatch with negative implications on March 23, 2007. RATINGS AFFIRMED; OUTLOOK STABLE CVS Credit Lease Backed Pass-Through Certificates Rating Class To From A-1 BBB+/Stable BBB+/Watch Neg CVS Lease Pass-Through...
Companies mentioned in this report are: CVS Credit Lease Backed Pass-Through Certificates,CVS Caremark Corp.,CVS Lease Pass-Through Trust 2001,CVS Lease Pass-Through Trust 2002,CVS Pass-Through Certificates,CVS Lease Pass-Through Trust 2003,CVS Lease Pass-Through Trust 2005
Action: Outlook: Stable
Action: Removed From CreditWatch
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CVS Credit Lease Backed Pass-Through Certificates,CVS Caremark Corp.,CVS Lease Pass-Through Trust 2001,CVS Lease Pass-Through Trust 2002,CVS Pass-Through Certificates,CVS Lease Pass-Through Trust 2003,CVS Lease Pass-Through Trust 2005