Lehman Brothers Inc. Liquidity Facility-Backed Ratings Cut; On CreditWatch Developing Sep 08
- ID: 2085587
- September 2008
- Standard & Poors
CHICAGO (Standard & Poor's) Sept. 17, 2008--Standard & Poor's Ratings Services lowered its short-term ratings on nine Lehman Brothers Inc. liquidity facility-backed issues and placed them on CreditWatch with developing implications. This action follows Standard & Poor's Sept. 15, 2008, downgrade of Lehman Brothers Inc. to 'BB-/B' from 'A+/A-1' and placement of the rating on CreditWatch with developing implications. As Lehman Brothers provides liquidity for the issues, the downgrade and CreditWatch action only affect the short-term ratings on the issues. Issue Description Ribco Trust (California) floating rate trust receipts (FR-TRs) series 2004 L27 relating to State of California economic recovery bonds series 2004A Ribco Trust series 00L-12 floating rate trust receipts (FR-Trs) relating to Chicago college single-family mortgage revenue bonds...
Companies mentioned in this report are: Texas Dept of Hsg & Comnty Affairs,Lehman Brothers Inc.,Ribco Tr
Action: On CreditWatch:Developing
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