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Assured Guaranty (Europe) Ltd.-Related Custodial Receipts Rating Lowered To 'AA-' Dec 11
Standard & Poors, Dec 2011
Abstract
NEW YORK (Standard & Poor's) Dec. 13, 2011--Standard & Poor's Ratings Services today lowered its rating on the custody receipts evidencing beneficial ownership of -140.95 million asset-backed notes issued by Adriatica Finance S.r.l's floating-rate notes due Dec. 27, 2021 to 'AA-' from 'AA+' and removed it from CreditWatch, where we placed it with negative implications on Oct. 5, 2011. Our rating on the custodial receipts is dependent on our rating on the guarantor, Assured Guaranty (Europe) Ltd. ('AA-'). Today's rating actions follow our Nov. 30, 2011, lowering of our rating on the guarantor to 'AA-' from 'AA+' and its removal from CreditWatch with negative implications. We may take subsequent rating actions on the custodial receipts due to changes in our...
Companies mentioned in this report are: Custody Receipts evidencing beneficial ownership of euro 140,950,000 asset-backed notes issued by Adriatica Finance S.r.l.
Action: Downgraded
Action: Removed From CreditWatch
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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