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Bulletin: Ratings On Main Street Natural Gas 2006B Bonds Unaffected By UBS CreditWatch Placement Oct 08
Standard & Poors, Oct 2008
Abstract
NEW YORK (Standard & Poor's) Oct. 17, 2008--Standard & Poor's Ratings Services said today that its placement of ratings on UBS AG (AA-/Negative/A-1+) and its subsidiaries on CreditWatch with negative implications does not affect the rating or outlook on Main Street Natural Gas Inc.'s $527.6 million series 2006B gas revenue bonds (A/Watch Dev). The CreditWatch placement reflects Standard & Poor's views of UBS' earnings capacity and franchise prospects in the challenging conditions that are likely to persist over the intermediate term. While the Swiss government's support package to UBS caps losses on UBS' least liquid assets and should materially improve the customer and investor confidence, Standard & Poor's believes the bank's underlying performance during this period to remain below peers...
Companies mentioned in this report are: Main Street Natural Gas Inc. (Gas Prepay),UBS AG
Action: Bulletin
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.
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