Rating Actions Taken On 387 Dexia Credit Local LOC- And Liquidity Facility-Backed Public Finance Issues Jun 11

Standard & Poors, June 2011

Abstract
Standard & Poor's Ratings Services placed its ratings on 387 Dexia Credit Local letter of credit (LOC)- and liquidity facility-backed U.S. Public Finance issues on CreditWatch with negative implications and revised its outlook on 172 of these issues (see table). These rating actions follow Standard & Poor's May 23, 2011, placement of its rating on Dexia Credit Local on CreditWatch with negative implications (see "Dexia Core Bank 'A/A-1' Ratings Placed On Watch Negative On Greece Exposure And Potential Acceleration Of Deleveraging," published May 23, 2011, on RatingsDirect on the Global Credit Portal). The ratings on the 387 issues have credit and/or liquidity support provided by Dexia Credit Local in the form of either LOCs or liquidity facilities, which provide for...

Companies mentioned in this report are: Dexia Credit Local

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.

Dexia Credit Local

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