Summary: Ratings On Three BB&T Municipal Trust Issues Lowered To ?AA+/A-1? And ?AA+?; Joint Criteria; Residual Certificates; Tender Option Certificates/Bonds Jan 12

Standard & Poors, January 2012

Abstract
Standard & Poor's Ratings Services lowered its ratings on three BB&T Municipal Trust issues to 'AA+/A-1' and 'AA+' from 'AAA/A-1' and 'AAA', respectively. These actions follow Standard & Poor's Dec. 6, 2011, downgrade of its rating on Branch Banking & Trust Co. to 'A/A-1' from 'A+/A-1' (please see "Standard & Poor's Applies Its Revised Bank Criteria To 31 North American Regional Banks And Their Subsidiaries," published Dec. 6, 2011, on RatingsDirect on the Global Credit Portal). The long-term component of the rating is based jointly on the ratings on the obligors and the letter of credit facilities provided by Branch Banking & Trust Co. The short-term components of the ratings are based on liquidity provided by Branch Banking & Trust...

Companies mentioned in this report are: Anaheim,BB&T Muni Tr
Action: Downgraded

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.

This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

Anaheim,BB&T Muni Tr

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