Bangkok--27 Jan--Standard & Poor's
Standard & Poor's Ratings Services has withdrawn its AAA/Watch Neg/A-1+ rating on Southern California Home Financing Authority's single-family mortgage revenue bonds draw down series 2007-IA and 2007-IB following a request from the issuer to remove the rating on these bonds. The bonds were previously enhanced by a DEPFA Bank PLC guaranteed investment contract (GIC) which met Standard & Poor's counterparty criteria enabling the issue to obtain a 'AAA' rating. Following the downgrade of DEPFA, the GIC funds were refunded and the issuer purchased the remaining outstanding bonds.
Complete ratings information is available to subscribers of RatingsDirect, the real-time Web-based source for Standard & Poor's credit ratings, research, and risk analysis, at www.ratingsdirect.com. All ratings affected by this rating action can be found on Standard & Poor's public Web site at www.standardandpoors.com; select your preferred country or region, then Ratings in the left navigation bar, followed by Find a Rating.
Media Contact:
Edward Sweeney, New York (1) 212-438-6643, [email protected]
Analyst Contacts:
Ryan Butler, New York (1) 212-438-2122
Beatriz Peguero, New York (1) 212-438-2164
Key Contacts:
Americas Media Relations: (1) 212-438-6667
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Americas Customer Service: (1) 212-438-7280
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