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90 Regions Bank LOC-Supported Bonds Ratings Placed On CreditWatch Negative May 09
Standard & Poors, May 2009
Abstract
NEW YORK (Standard & Poor's) May 11, 2009--Standard & Poor's Ratings Services today placed its ratings on 90 Regions Bank letter of credit (LOC)-supported bond issues on CreditWatch with negative implications (see list). The ratings on 84 of the affected issues are based on the credit and liquidity support that Regions Bank (A+/Watch Neg/A-1) provides in the form of LOCs. The rating on the remaining six affected issue is based on the credit support provided by Regions Bank in the form of an LOC. All of the LOCs provide for the full and timely payment of interest and principal according to the transactions' terms. Today's rating actions follow the May 4, 2009, placement of our long- and short-term counterparty credit...
Action: New Rating
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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