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Bulletin: Texas Municipal Gas Acquisition and Supply Corp. Bonds Ratings Unaffected By Watch Positive Action On DEPFA Apr 09 Product Image

Bulletin: Texas Municipal Gas Acquisition and Supply Corp. Bonds Ratings Unaffected By Watch Positive Action On DEPFA Apr 09

  • ID: 1858429
  • April 2009
  • Region: Texas
  • Standard & Poors

Abstract
NEW YORK (Standard & Poor's) April 1, 2009--Standard & Poor's Ratings Services said today that placement of ratings on DEPFA BANK PLC (BBB/Watch Pos/A-2) on CreditWatch with positive implications does not affect the rating or outlook on Texas Municipal Gas Acquisition and Supply Corp.'s (TexGas I) series 2006A, 2006B, and 2008D bonds (A/Negative). The CreditWatch placement reflects a declaration of intent by the German government that it will support DEPFA's parent Hypo Real Estate Bank AG (BBB/Watch Pos/A-2) to achieve sufficient recapitalization and further guarantees. (See "Research Update: Hypo Real Estate Entities 'BBB/A-2' Ratings On CreditWatch Positive On Likely State Support" published on April 1, 2009 on RatingsDirect.) Resolution of the CreditWatch is expected in the second quarter of 2009,...

Companies mentioned in this report are:
- Texas Municipal Gas Acquisition and Supply Corp. (Gas Prepay)
- Deutsche Pfandbriefbank AG
- Depfa Bank PLC

Action: Bulletin

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.

Note: Product cover images may vary from those shown

- Texas Municipal Gas Acquisition and Supply Corp. (Gas Prepay)
- Deutsche Pfandbriefbank AG
- Depfa Bank PLC

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown

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