Bangkok--18 Jun--Standard & Poor's
Standard & Poor's Ratings Services has corrected its rating and outlook on GMAC Commercial Military Housing Trust XVI project certificates, series 2008A, issued on behalf of Lewis McChord Communities for the Fort Lewis/McChord AFB project, by raising the rating to 'AA+/Stable' from 'A/ Negative'.
The incorrect rating and outlook of 'A/Negative' assigned to the issue on Nov. 19, 2008, was due to a data entry error whereby Ambac Assurance Corp. was incorrectly entered as a bond insurer on the issue. The issue is not bond insured. As a result, when the rating of Ambac Assurance Corp. was lowered to 'A/Negative' on Nov. 19, 2008, the rating on the issue was also lowered to 'A/Negative' from 'AA+/Stable'. The raised rating of 'AA+/Stable' reflects the original rating assigned to the issue on Oct. 23.
Complete ratings information is available to RatingsDirect subscribers 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:
Ana Sandoval, New York (1) 212-438-5095, [email protected]
Analyst Contacts:
Karen Fitzgerald, San Francisco (1) 415-371-5023
Mikiyon Alexander, New York (1) 212-438-2083