TITLE

S&P Tweaks Its Criteria for LOC-Backed Issues

AUTHOR(S)
Scarchilli, Michael
PUB. DATE
February 2006
SOURCE
Bond Buyer;2/14/2006, Vol. 355 Issue 32319, p4
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that Standard & Poor's Corp. has revised its criteria for rating jointly supported obligations, leading to rating upgrades of issues backed by letters of credit nationwide. The agency implemented a fairly significant revision to jointly support criteria using the company's analysis of default-risk correlation and data on speculative-grade risk correlation and data on speculative-grade risk. Jointly supported obligations are generally variable-rate bonds that carry the backing of an additional guarantor.
ACCESSION #
19788763

 

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