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PreferredPLUS Trust Series LMG-2 Rating Raised To 'BB' From 'BB-' Oct 11 Product Image

PreferredPLUS Trust Series LMG-2 Rating Raised To 'BB' From 'BB-' Oct 11

  • ID: 1931137
  • October 2011
  • Standard & Poors

Abstract
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
Action: Upgraded

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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