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22 'AAA' Ratings Withdrawn On Seven Closed-End Leveraged Fund Transactions Following Complete Paydowns
Standard & Poors, May 2011
Abstract
NEW YORK (Standard & Poor's) May 18, 2011--Standard & Poor's Ratings Services today withdrew its 'AAA' ratings on 22 tranches from seven closed-end leveraged fund transactions (see list). We withdrew our ratings following the complete paydowns of the classes on their redemption dates. RELATED CRITERIA AND RESEARCH Request For Comment: Methodology And Assumptions For Market Value Securities, published Aug. 31, 2010. Surveillance Procedures For Global Market Value Collateralized Debt Obligations Refined, published March 14, 2008. S&P Updates Portfolio Level Approach For Rating U.S. Market Value CDOs, published June 12, 2006. RATINGS WITHDRAWN Nuveen Arizona Dividend Advantage Municipal Fund 3 Rating Class To From Series M NR AAA Nuveen Insured Quality Municipal Fund Inc. Rating Class To From Series M NR...
Companies mentioned in this report are: Nuveen Virginia Premium Income Municipal Fund,Nuveen Premium Income Municipal Fund Inc.,Nuveen Performance Plus Municipal Fund Inc.,Nuveen Insured Quality Municipal Fund Inc.,Nuveen Maryland Premium Income Municipal Fund,Nuveen Ohio Dividend Advantage Municipal Fund,Nuveen Arizona Dividend Advantage Municipal Fund 3
Action: Withdrawn
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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