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Blue Heron Funding I Rating On Class A Lowered To 'A-2' Due To WestLB AG Direct Link Oct 05
Standard & Poors, Oct 2005
Abstract
NEW YORK (Standard & Poor's) Oct. 14, 2005--Standard & Poor's Ratings Services today lowered its short-term credit rating on the class A tranche of Blue Heron Funding I Ltd. to 'A-2' from 'A-1+' due to its direct link to the short-term rating on WestLB AG, which acts as put counterparty and liquidity provider. At the same time, the ratings on the other tranches from this transaction are affirmed (see list). Today's expiration and extension of the transaction's put option marks the end of the statutory state guarantee that supported WestLB AG's put counterparty rating on this transaction's class A notes after July 19, 2005. As a result, the rating assigned to Blue Heron Funding I's class A notes is now...
Companies mentioned in this report are: WestLB AG (Unsolicited Ratings)
Action: Affirmed
Action: Downgraded
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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