Repackaged Securities Affected By Nov. 29, 2011, Rating Actions On Various Banks And Certain Subsidiaries Dec 11
- Language: English
- Published: December 2011
NEW YORK (Standard & Poor's) Jan. 20, 2012--Standard & Poor's Ratings Services today lowered its rating on SATURNS Trust No. 2003-1?s $60.192 million units to 'CCC+' from 'B'. Our rating on the units is dependent on our rating on the underlying security, Sears Roebuck Acceptance Corp.'s 7.00% notes due June 1, 2032 ('CCC+'). Today's rating action follows our Dec. 28, 2011, placement of our 'B' rating on the underlying security on CreditWatch with negative implications and our Jan. 5, 2012, lowering of our rating on the underlying security to 'CCC+' from 'B' and its removal from CreditWatch with negative implications. We may take subsequent rating actions on the units due to changes in our rating on the underlying security. STANDARD...
Companies mentioned in this report are: SATURNS Trust No 2003-1
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