Ratings On 33 Bonds Supported By Banco Santander, Compass Bank, And Sovereign Bank LOCs Lowered Mar 12

Standard & Poors, March 2012

Abstract
NEW YORK (Standard & Poor's) March 6, 2012--Standard & Poor's Ratings Services today lowered its ratings on 33 bond issues supported by letters of credit (LOCs) provided by the following financial institutions and removed the ratings from CreditWatch with negative implications, where they were placed on Dec. 16, 2011 (the Sovereign Bank LOC-supported bond issues) and Jan. 13, 2012 (the Banco Santander S.A. and Compass Bank LOC-supported bond issues) (see list): Banco Santander S.A.; Compass Bank; and Sovereign Bank. The long- and short-term components of our ratings on the bonds are based on our long- and short-term issuer credit ratings on the entities that support these issues. The long-term components of our ratings on the bonds address full and timely...

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.

- Berks Cnty Mun Auth
- Howard Cnty
- Massachusetts Development Finance Agency
- Westchester Cnty Indl Dev Agy
- New Jersey Econ Dev Auth
- Cuyahoga Cnty
- Vermont Hsg Fin Agy
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- Dale G. Mitchum, M.D. FACS
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- Capital Markets Access Company LC
- Tuscaloosa Cnty Port Auth
- Delos, LLC

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