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Bulletin: Mississippi Development Bank Gas Prepay Bond Rating Unaffected By Counterparty Downgrade Feb 12
Standard & Poors, Feb 2012
Abstract
NEW YORK (Standard & Poor's) Feb. 7, 2012--Standard & Poor's Ratings Services said today that the Jan. 23, 2012 downgrade of Societe Generale (SocGen; A/Stable/A-1) does not affect the rating or outlook on Mississippi Development Bank's (MDB) series 2005 bonds (A/Stable/A-1) as they have the same rating. (See 'Societe Generale And Core Subsidiaries Long-Term Ratings Lowered To 'A' Following Sovereign Action; Outlook Stable,' published Jan. 23, 2012 on RatingsDirect on the Global Credit Portal.) The downgrade of SocGen followed our rating action on France. (See 'France's Unsolicited Long-Term Ratings Lowered to 'AA+'; Outlook Negative,' published on Jan. 13, 2012.) The rating on MDB is currently tied to the long-term credit rating of BP Corp. North America Inc. (BPNA; A/Stable/A-1). BPNA...
Companies mentioned in this report are: Mississippi Development Bank (Gas Prepay),BP Corp. North America Inc.
Action: Bulletin
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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