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Burlington Northern Santa Fe Corp.-Related Synthetic Transaction Ratings Lowered To 'BBB' Feb 07
Standard & Poors, Feb 2007
Abstract
NEW YORK (Standard & Poor's) Feb. 23, 2007--Standard & Poor's Ratings Services today lowered its ratings on the $75 million Receipts on Corporate Securities Trust Series BNSF 1998-1 amortizing and residual certificates to 'BBB' from 'BBB+'. The rating actions reflect the Feb. 15, 2007, lowering of the long-term corporate credit and senior unsecured debt ratings on Burlington Northern Santa Fe Corp. Receipts on Corporate Securities Trust Series BNSF 1998-1 is a swap-independent synthetic transaction that is weak-linked to the underlying collateral issued by Burlington Northern Santa Fe Corp., 7.25% debentures due Aug. 1, 2097. The Burlington Northern Santa Fe Corp.-related research update, 'Burlington Northern Santa Fe Long-Term Ratings Lowered To 'BBB' From 'BBB+', Stable Outlook,' dated Feb. 15, 2007, is...
Companies mentioned in this report are: Receipts on Corporate Securities Trust, Series BNSF 1998-1,Burlington Northern Santa Fe LLC
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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