Rating Outlooks On Three Ambac-Backed Housing Issues Revised To Negative Aug 09

Standard & Poors, August 2009

Abstract
NEW YORK (Standard & Poor's) Aug. 18, 2009--Standard & Poor's Ratings Services revised its rating outlook on three housing bond issues listed below to negative from developing. At the same time, Standard & Poor's affirmed its 'CC' rating on the bonds. This action follows Standard & Poor's revision of its rating outlook on Ambac Assurance Corp. to negative from developing (see " Ambac Assurance Corp. Ratings Outlook Changed to Negative from Developing", RatingsDirect, Aug. 7 2009). The affected issues receive partial support in the form of guaranteed investment contracts or investment agreements from Ambac Assurance Corp. for the debt service reserve fund (DSRF). According to current criteria, Standard & Poor's considers whether monies deposited in the DSRF, which is generally...

Companies mentioned in this report are:
- Bountiful
- New York State Dorm Auth
- Illinois Hsg Dev Auth

Action: Outlook: 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.

- Bountiful
- New York State Dorm Auth
- Illinois Hsg Dev Auth

Customers who bought this item also bought

• External Quality Audit: Has It Improved Quality Assurance In Universities?
• Malaysia Infrastructure Report Q3 2010
• Analysis of the DoD Ground Combat Vehicle Market: Expecting Continued Negative Growth
• Museum Educator's Handbook
• Greece Infrastructure Report Q1 2012
• Indonesia - A Political Risk Forecast
• Multinational Colleges and Universities: Leading, Governing, and Managing International Branch Campuses. New Directions for Higher Education. Number 155. J-B HE Single Issue Higher Education
• India Defence and Security Report Q4 2011
• Reviews of National Policies for Education: Quality Assurance in Higher Education in Chile 2013
• Private Tutoring - Global Strategic Business Report