41 Wachovia Bank NA Credit Liquidity Fac-Bckd Muni Iss Downgraded and Removed from Watch Neg

  • ID: 1784577
  • September 2001
  • Standard & Poors
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NEW YORK (Standard & Poor's) Sept. 14, 2001-Standard & Poor's today lowered its ratings on 41 Wachovia Bank, N.A. credit liquidity facility-backed municipal issues and removed them from CreditWatch negative, where they were placed April 16, 2001 (see list below). This action follows the Sept. 4, 2001 downgrade of Wachovia Bank, N.A.'s ratings to single-'A'-plus/'A-1' from double-'A'-minus/'A-1'-plus and its subsequent removal from CreditWatch negative. Forty-One Wachovia Bank, N.A. Credit Liquidity Facility-Backed Municipal Issues Issuer/Issue Amt($mil) Rating To From Asheville, NC Taxable certificate of participation $14.00 A+/A-1 AA-/A-1+ Asheville Claims Corp., NC Certificate of participation series 1993A $10.00 A+/A-1 AA-/A-1+ Buncombe County, NC Variable-rate GO bonds series 1997 $12.00 AA/A-1 AA/A-1+ Carolina Medi-Plan Inc., NC Taxable variable-rate demand bonds series 1997...

Action: Downgraded

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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