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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

  • Published: 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

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

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