Ratings On Eight CVS-Related CMBS Deals Affirmed And Off Watch Neg Mar 07
- ID: 1721183
- March 2007
- Standard & Poors
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 Health Corp.
- CVS Pass-Through Certificates
- CVS Lease Pass-Through Trust 2003
- CVS Lease Pass-Through Trust 2005
Action: Outlook: Stable
Action: Removed From CreditWatch
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article. SHOW LESS READ MORE >