Bangkok--16 Sep--Standard & Poor's
Standard & Poor's Ratings Services corrected and lowered its long-term rating on Utah Housing Corp.'s Ginnie Mae collateralized housing revenue bonds (Country Oaks Apartment Project) series 1999A to 'AA+' from 'AAA'. This issue receives partial credit support in the form of an investment agreement with FGIC Capital Market Services Inc., which is guaranteed by General Electric Capital Corp. (AA+/A-1+). Due to an administrative error, we incorrectly did not lower the rating on the bonds contemporaneously with our March 12, 2009, downgrade of General Electric Capital Corp. to 'AA+/A-1+' from 'AAA/A-1+' (please see, "General Electric Co. And Units Long-Term Ratings Lowered To 'AA+'; Outlook Stable", RatingsDirect, March 12, 2009).
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Ana Sandoval, New York (1) 212-438-5095, [email protected]
Analyst Contacts:
Renee J Berson, New York (1) 212-438-7966
Karen Fitzgerald, San Francisco (1) 415-371-5023