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Rating Actions Taken On DEPFA BANK PLC LOC- And SBPA-Backed Public Finance Issues Jun 09

  • ID: 1770539
  • June 2009
  • Standard & Poors
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  • Albuquerque
  • Connecticut Hsg Fin Auth
  • Emmaus Gen Auth
  • Illinois
  • Michigan
  • Texas Vets Land Brd
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Standard & Poor's Ratings Services changed its ratings on 103 DEPFA BANK PLC letter of credit (LOC)- and standby bond purchase agreement (SBPA)-backed U.S. Public Finance issues (see table 1). These rating actions follow Standard & Poor's April 1, 2009, placement of its rating on DEPFA BANK PLC on CreditWatch with positive implications (see "Hypo Real Estate Entities 'BBB/A-2' Ratings On CreditWatch Positive On Likely State Support", RatingsDirect, April 1, 2009). The ratings on the 103 issues that were changed have credit and/or liquidity support provided by DEPFA BANK PLC in the form of either LOCs or SBPAs, which provide for the full and timely payment of interest and principal according to the transactions' terms....

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: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.

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- Connecticut Hsg Fin Auth
- San Francisco City & Cnty Arpt Comm
- Michigan St Hsg Dev Auth
- Cook Cnty
- Albuquerque
- Charlotte
- Erie Cnty Wtr Auth
- Union Cnty
- Michigan
- Massachusetts
- Illinois
- California
- Dorm Auth of the St of New York
- Triborough Br & Tunnel Auth
- Utah Hsg Corp.
- Vermont Hsg Fin Agy
- Snohomish Cnty Pub Util Dist #1
- Arlington
- Utah St Brd of Regents
- El Paso Indpt Sch Dist
- Nashville & Davidson Cnty Metro Govt
- Pennsylvania Hsg Fin Agy
- California Hsg Fin Agy
- Jefferson Cnty
- District of Columbia
- New York City Mun Wtr Fin Auth
- The Indianapolis Local Pub Imp Bnd Bank
- Illinois Regl Transp Auth
- Emmaus Gen Auth
- Sunshine St Govt Fing Comm
- Texas Vets Land Brd
- Westminster Econ Dev Auth
- Texas Tpk Auth
- Depfa Bank PLC
- Texas Transp Comm
- Morgan Stanley & Co Inc Tr
- Garland Indpt Sch Dist
- Manor Indpt Sch Dist
- Florida Hsg Fin Corp
- Weatherford Indpt Sch Dist
- Georgia Mun Assn
- Santa Clara Vy Transp Auth
- WateReuse Fin Auth

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