Worthington Series Trust Class A And B Certificates Series 2012-B Assigned 'BBB' Ratings Mar 12
- ID: 2083333
- March 2012
- Standard & Poors
NEW YORK (Standard & Poor's) March 5, 2012--Standard & Poor's Ratings Services today assigned its 'BBB' ratings to Worthington Series Trust's $10 million floating-rate class A certificates and $10 million inverse floating-rate class B certificates series 2012-B due March 1, 2022. The 'BBB' ratings reflect our opinion of the likelihood that the issuer will have enough assets to pay timely interest and principal when due on the certificates. The only asset is the underlying security, Freeport-McMoRan Copper & Gold Inc.'s 3.55% senior notes due March 1, 2022 ('BBB'). Our ratings on the certificates depend solely on our rating on the underlying security. In view of the series 2012-B transaction structure, changes to our ratings on the trust certificates can result...
Companies mentioned in this report are: Worthington Series Trust
Action: New Rating
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.