Bangkok--9 Aug--Standard & Poor's
Standard & Poor's Ratings Services lowered its ratings to 'AA+' from 'AAA' on the bonds listed below following the downgrade on the United States of America on Aug. 5, 2011. Payments on the bonds are backed by federal leases. The ratings have been removed from CreditWatch where they were placed with negative implications on July 14, 2011. The outlooks are negative. The lower ratings on the bonds reflect our view that the lease rental payments supporting the various bonds, while subject to appropriation, are backed by the full faith and credit of the U.S.
Following are the issuer names and CUSIPs for the downgraded issues:
- Miami, FL (593464AA8)
- National Archives & Records Admin, DC ( 63252FAA7)
- Architect of the Capitol, DC (3134909A3)
- Tacoma, WA (873521AT5, 873521BP2, 873521BQ0)
- The Board of Governors of the University of North Carolina, NC (914713KU5; 914713KT8; 914713KV3; 914713KW1)
- Atlanta Downtwn Dev Auth, GA (04780EAB3)
- Security Land & Development Co., L.P., MD (8143529A9)
- DOT Headquarters Depositor Corp. (233243AB0).
RELATED CRITERIA AND RESEARCH
USPF Criteria: Federal Leases, June 18, 2007
Complete ratings information is available to subscribers of RatingsDirect on the Global Credit Portal at www.globalcreditportal.com. All ratings affected by this rating action can be found on Standard & Poor's public Web site at www.standardandpoors.com. Use the Ratings search box located in the left column.
Media Contact:
Ola Fadahunsi, New York (1) 212-438-5095,
[email protected]
Analyst Contacts:
John Kenward, Chicago (1) 312-233-7003
Richard J Marino, New York (1) 212-438-2058