Bangkok--27 Jul--Standard & Poor's
Standard & Poor's Ratings Services corrected and lowered its rating on Port of Tacoma, Wash.'s subordinate-lien revenue refunding bonds series 2008B to 'AAA/A-1' from 'AAA/A-1+'. This issue receives credit enhancement through a direct-pay, irrevocable letter of credit (LOC) provided by Bank of America N.A. We incorrectly did not downgrade the issue after our downgrade of Bank of America to 'A+/A-1' from 'AA-/A-1+' (please see "Bank of America Corp. Rating Lowered To 'A' From 'A+'; Outlook Remains Negative", RatingsDirect, March 3, 2009).
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Media Contact:
Ana Sandoval, New York (1) 212-438-5095, [email protected]
Analyst Contacts:
Santos Souffront, New York (1) 212-438-2197
Tiphany Lee, New York 212 438 5464
Key Contacts:
Americas Media Relations: (1) 212-438-6667
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Americas Customer Service: (1) 212-438-7280
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