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BellSouth-Related Synthetic Transaction Ratings Placed On Watch Negative Jan 06
Standard & Poors, Jan 2006
Abstract
NEW YORK (Standard & Poor's) Jan. 24, 2006--Standard & Poor's Ratings Services today placed its 'A' ratings on various synthetic securities issued by various BellSouth-related trusts on CreditWatch with negative implications (see list). The CreditWatch actions follow the placement of the corporate credit and senior-unsecured debt ratings on BellSouth Corp., and its related entities, on CreditWatch with negative implications on Jan. 13, 2006. All of the affected securities were issued through swap-independent synthetic transactions that are weak-linked to one of the following underlying securities: BellSouth Telecommunications Inc.'s 7.00% debentures due Dec. 01, 2095; BellSouth Telecommunications Inc.'s 6.75% debentures due Oct. 15, 2033; BellSouth Capital Funding Corp.'s 6.04% debentures due Nov. 15, 2026; or BellSouth Capital Funding Corp.'s 7.12% debentures due...
Companies mentioned in this report are: BellSouth Telecommunications Inc.,BellSouth Capital Funding Corp.,Receipts on Corporate Securities Trust,Structured Asset Trust Unit Repackagings (SATURNS) BellSouth Corporation Debenture Backed Series 2004-5
Action: On CreditWatch:Negative
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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