Research Update: Main Street Natural Gas 2006B Ratings Lowered To 'A'; Outlook Negative On Bank Of America Downgrade Mar 09
- ID: 1791567
- March 2009
- Region: America, United States
- Standard & Poors
On March 4, 2009, Standard & Poor's Ratings Services lowered its ratings on Main Street Natural Gas Inc.'s $527.6 million series 2006B gas revenue bonds to 'A' from 'A+'. The outlook is negative. The ratings on the Main Street 2006B transaction are currently linked to the rating on Merrill Lynch & Co. Inc. (A/Negative/A-1), which guarantees the obligations of Merrill Lynch Commodities Inc. (MLCI; unrated). On March 3, 2009, Standard & Poor's lowered the ratings on Merrill Lynch & Co. Inc. and its parent Bank of America Corp. (BofA) to 'A' from 'A+'. The downgrade reflects Standard & Poor's belief that general economic weakness will persist and that in turn, earnings pressures for BofA will be more intense than previously...
Companies mentioned in this report are:
- Main Street Natural Gas Inc. (Gas Prepay)
- Merrill Lynch & Co. Inc.
- Bank of America Corp.
Action: Outlook: Negative
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Product Type: Research Update
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