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Ambac-Backed Ratings On CreditWatch Negative Jan 08
Standard & Poors, Jan 2008
Abstract
NEW YORK (Standard & Poor's) Jan. 24, 2008--Standard & Poor's Ratings Services placed its 'AAA' standard long-term rating on 12 Ambac Assurance Corp.-backed issues listed below on CreditWatch with negative implications. At the same time, Standard & Poor's placed its 'AAA' underlying rating (SPUR) on seven Ambac Assurance Corp.-backed issues listed below on CreditWatch with negative implications. These actions follow Standard & Poor's placement of Ambac on CreditWatch with negative implications. Eighteen of the issues receive partial support in the form of guaranteed investment contracts or investment agreements from Ambac Assurance Corp. One issue, Illinois Housing Development Authority (IDHA) receives support from Ambac under a surety bond. If the trustee does not receive payment from the borrower the trustee would...
Companies mentioned in this report are: Athens Hsg Auth,San Francisco City & Cnty Redev Agy,New York State Dorm Auth,Illinois Hsg Dev Auth,Chicago,Florida Hsg Fin Corp,Palm Beach Cnty Hsg Fin Auth,Miami Dade Cnty Hsg Fin Auth ,Nevada Hsg Div,St Louis Cnty Indl Dev Auth,Bountiful,St Johns Cnty Hsg Fin Auth,Atlanta Hsg Auth,Hawaii Hsg Comnty Dev Corp,Ambac Assurance Corp.,Raleigh Housing Authority,Hillsborough Cnty Hsg Fin Auth
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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