Main Street Natural Gas Series 2007A Bond Ratings Placed On Watch Dev Sep 08
Standard & Poors, September 2008
Abstract
NEW YORK (Standard & Poor's) Sept. 15, 2008--Standard & Poor's Ratings Services said today that it placed its 'A' senior secured rating on Main Street Natural Gas Inc.'s $496.71 million series 2007A tax-exempt revenue bonds on CreditWatch with developing implications. "The rating action follows our Sept. 15, 2008 CreditWatch placement of Merrill Lynch & Co. Inc. (A/Watch Dev/A-1), which guarantees the obligations of Main Street's gas supplier in this transaction," noted Standard & Poor's credit analyst Kenneth L. Farer. "Standard & Poor's placed its ratings on Merrill Lynch and all related entities on CreditWatch with developing implications following Bank of America Corp.'s (AA-/Watch Neg/A-1+) agreement to acquire Merrill Lynch in an all-stock transaction valued at about $50 billion," he continued....
Companies mentioned in this report are: Main Street Natural Gas Inc. (Gas Prepay),Merrill Lynch & Co. Inc.,Bank of America Corp.
Action: On CreditWatch:Developing
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.
Main Street Natural Gas Inc. (Gas Prepay),Merrill Lynch & Co. Inc.,Bank of America Corp.
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