PreferredPLUS Trust Series GRC-1 Rating Raised To 'A' From 'BBB+' And Removed From CreditWatch Positive Aug 12
- Language: English
- Published: August 2012
NEW YORK (Standard & Poor's) Oct. 6, 2011--Standard & Poor's Ratings Services today raised its rating on PreferredPLUS Trust Series LMG-2?s $31 million certificates to 'BB' from 'BB-' and removed it from CreditWatch, where we placed it with positive implications on July 11, 2011. Our rating on the certificates is dependent on our rating on the underlying security, Liberty Media Corp.'s 8.5% senior unsecured notes due July 15, 2029 ('BB'). Today's upgrade and CreditWatch removal follows our Sept. 29, 2011, raising of our rating on the underlying security to 'BB' from 'BB-' and its removal from CreditWatch with positive implications. We may take subsequent rating actions on the certificates due to changes in our rating on the underlying security. RELATED...
Companies mentioned in this report are: PreferredPLUS Trust Series LMG-2
Action: Removed From CreditWatch
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