Moody's Global Credit Research

Moody's Global Credit Research Moody's Investors Service, a leading global credit rating, research and risk analysis firm, publishes credit opinions, research, and ratings on fixed-income securities, issuers of securities and other credit obligations. Credit ratings and research help investors analyze the credit risks associated with fixed-income securities. Ratings also create efficiencies in fixed-income markets and similar obligations, such as insurance and derivatives, by providing reliable, credible, and independent assessments of credit risk. For issuers, Moody's services increase market liquidity and may reduce transaction costs.
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2009-10-28:
Name Date
AmeriCredit Prime Auto Receivables Trust 2009-1 AmeriCredit Prime Auto Receivables Trust 2009-1 2009-10-28
...Moody's has assigned provisional ratings of (P)Prime-# to the Class A-# money market tranche, (P)Aaa to the Classes A-# through A-#, (P)Aa# to the Class B, and (P)A# to the Class C notes issued in the term securitization of prime/near prime automobile loans by AmeriCredit Prime Auto Receivables Trust ####-# auto loan securitization (APART ####-#). In addition, Moody's has assigned an Assumption Volatility Score of...
Deco 12 - UK 4 p.l.c. Deco 12 - UK 4 p.l.c. 2009-10-28
...% of Current % of Current Amount at Pool at Loan Current Origination Number of Loan Name Closing Closing Amount Pool Date...
Evaluating the Leverage of Unregulated Power Companies Evaluating the Leverage of Unregulated Power Companies 2009-10-28
...This special comment evaluates leverage for unregulated wholesale power companies by examining the relationship between debt and the amount of electric energy generated for each issuer. We observe a strong correlation between the ratings assigned to issuers in this sector and the relative ranking of issuers based upon the calculation of debt per Giga Watt hour (GWh). Debt / GWh can provide insight into the operating leverage of unregulated power companies. Measuring an issuer's expected electric production provides a view on competitive position, operating expertise, and other factors that can influence the dispatch merit order. The ratio's components fall largely within management's control and are far likelier to remain steady over time than others examined in the highly variable, commodity-sensitive power generation business. The ratio has shortcomings for unregulated power companies, especially those in regions dominated by hydroelectric capacity or for unregulated companies that rely...
Moody's Credit Perspectives - Municipal Finance Moody 2009-10-28
...Cal State U. bonds confirmed, taken off Watchlist...# Pittsburgh water bonds upgraded to Aaa...# Cook County's G.O. bonds rated Aa#...# Osceola County upgraded...# Minnesota's $### million in G.O. bonds rated Aa#...# N.Y.C. Water Finance Authority issues second general resolution bonds...# Fond du Lac downgraded to Aa# from Aa#...# Pennsylvania fixed-rate bonds rated A#...# Frisco ISD's bonds upgraded to Aa#...# U. of Maryland Medical System upgraded to Aaa...#...
Bank of America Auto Trust 2009-3 Bank of America Auto Trust 2009-3 2009-10-28
...Moody's has assigned provisional ratings of (P) Prime-# to the Class A-# notes, and (P) Aaa to the Class A-# through A-# notes to be issued in the term securitization of prime automobile loans by Bank of America Auto Trust ####-# (BAAT ##-#). Moody's ratings of the Class A notes are based on the following strengths:...
MESDAG (Charlie) B.V. MESDAG (Charlie) B.V. 2009-10-28
...The principal methodology used in rating and monitoring the transaction is "Update on Moody's Real Estate Analysis for CMBS Transaction in EMEA" June ####, which can be found at www.moodys.com in the Credit Policy & Methodologies directory, in the Ratings Methodologies subdirectory. Other methodologies and factors that may have been considered in the process of rating this issue can also be found in the Credit Policy & Methodologies directory. Moody's has sourced the data from the Servicer's report....
Talisman - 4 Finance plc Talisman - 4 Finance plc 2009-10-28
...% of Current Current Amount at Pool at Loan Origination Number of Property Location of Loan Name Closing Closing Amount Date...
TITAN Europe 2006-1 p.l.c. TITAN Europe 2006-1 p.l.c. 2009-10-28
...% of Current % of Current Amount at Pool at Loan Current Origination Number of Loan Name Closing Closing Amount Pool Date...
Deco 6 - UK Large Loan 2 plc Deco 6 - UK Large Loan 2 plc 2009-10-28
... Total ###.# Available Liquidity Facility ##.# #.#% ...
Lloyds TSB Covered Bond Programme Lloyds TSB Covered Bond Programme 2009-10-28
...Overview Legal Framework Programme closing date : December #### Does a specific Covered Bonds Law apply for this programme : No Total outstanding liabilities : GBP #,###,###,### Total Assets in the Cover Pool : GBP ##,###,###,### Country in which Collateral is based : United Kingdom Issuer Name : Country in which issuer is based : United Kingdom Group / Parent Name : Main Collateral Type (>##%) : Residential Timely Payment Ratings Refinancing period for principal payments of # months or greater: Yes Aa# / On review for Downgrade Liquidity reserve to support timely payments on all issuances : Yes Unfunded Group / Parent Senior Unsecured rating : Aa# / On review for Downgrade Timely Payment Indicator ("TPI") (note #) : Probable Covered Bonds Rating : Aaa Maximum Leeway given TPI, Issuer Rating and CB Rating : # notch(es)...
CIBC Global Public Sector Bond Programme CIBC Global Public Sector Bond Programme 2009-10-28
...Overview Legal Framework Programme closing date : June #### Does a specific Covered Bonds Law apply for this programme : No Total outstanding liabilities : CAD #,###,###,### Total Assets in the Cover Pool : CAD #,###,###,### Country in which Collateral is based : Canada Issuer Name : Country in which issuer is based : Canada Group / Parent Name : Main Collateral Type (>##%) : Residential Timely Payment Ratings Refinancing period for principal payments of # months or greater: Yes Aa# / Negative outlook Liquidity reserve to support timely payments on all issuances : Yes Unfunded Group / Parent Senior Unsecured rating : Aa# / Negative outlook Timely Payment Indicator ("TPI") (note #) : Probable Covered Bonds Rating : Aaa Maximum Leeway given TPI, Issuer Rating and CB Rating : # notch(es)...
MOODY'S ABCP RATING ACTIONS FOR THE SEVEN-DAY PERIOD ENDED OCTOBER 26, 2009 MOODY 2009-10-28
...THE RATING OF THE FOLLOWING ABCP PROGRAM WAS AFFIRMED AT PRIME-# DURING THE PERIOD OCTOBER ##, #### THROUGH OCTOBER ##, ####: ROYAL BANK OF SCOTLAND'S CHURCHILL ADDS A FACILITY TO ISSUE UP TO GBP ##.# BILLION SENIOR UNCOMMITTED NOTES Churchill Loan Asset Securitisation Programme, LLC ("Churchill"), a fully supported, multi-seller ABCP conduit sponsored by the Royal Bank of Scotland ('RBS'; Aa#/Prime-#/C-), has added a facility to purchase up to GBP ##.# billion senior uncommitted notes backed by a portfolio of corporate loans. The transaction is fully supported by a liquidity facility, in the form of a committed note purchase facility, provided by Prime-# rated RBS. Churchill has about GBP ##.# billion in purchase commitments and an issuance limit of US$## billion. According to RBS, Churchill has been established for contingent liquidity purposes and does not intend to issue CP to the market in the near future. The principal methodology used in rating and monitoring the above-referenced...
DECO 7 Pan Europe 2 p.l.c. DECO 7  Pan Europe 2 p.l.c. 2009-10-28
...Type Properties Valuation Date Retail Germany Jul-## Office Germany All Amounts in EUR Nov-## Office The Netherlands Sep-## Property Location of Last Retail Switzerland Sep-## Trend Retail Germany Apr-## LTV...
Apulia Finance N. 4 S.r.l. Apulia Finance N. 4 S.r.l. 2009-10-28
...Footnotes - General Information # Date format throughout report is DD/MM/YYYY. Footnotes - Rating Opinion and General Commentary # If BancaApulia is downgraded below Baa# a liquidity reserve equal to #.#% of the current rated notes will be funded using principal collections and will be used to cover any interest shortfall....
MOODY'S ASSIGNS Baa1 RATING TO TRAVIS COUNTY MUNICIPAL UTILITY DISTRICT NO. 4'S [TX] $5.6 MILLION UNLIMITED CONTRACT TAX BONDS, SERIES 2009A MOODY 2009-10-28
Global Credit Research New Issue ## OCT #### New Issue: Travis County Municipal Utility District #, TX MOODY'S ASSIGNS Baa# RATING TO TRAVIS COUNTY MUNICIPAL UTILITY DISTRICT NO. #'S [TX] $#.# MILLION UNLIMITED CONTRACT TAX BONDS,...
Mexico Mexico 2009-10-28
Moody's Investors Service, a leading global credit rating, research and risk analysis firm, publishes credit opinions, research, and ratings on fixed-income securities, issuers of securities and other credit obligations. Credit ratings and research help investors analyze the credit risks associated with fixed-income securities. Ratings also create efficiencies in fixed-income markets and similar obligations, such as insurance and derivatives, by providing reliable, credible, and independent assessments of credit risk.
Annual Outlook: U.S. Retail Outlook Is Stable But Consumers Are Still Pressured Annual Outlook: U.S. Retail Outlook Is Stable But Consumers Are Still Pressured 2009-10-28
...We changed our outlook for the U.S. retail industry to stable from negative on September ##. This outlook expresses our expectations for the fundamental credit conditions in the industry over the next ## to ## months. We estimate that overall U.S. retail sales will rise modestly in ####, after declining to weak levels this year. High unemployment, low house prices and tight credit will cause consumers to remain focused on boosting their savings and repaying debt in the year ahead, cutting short any material improvement in sales. Some segments will demonstrate strength while others will demonstrate weakness. A sizable portion of the retail industry is represented by drugstores, discounters and supermarkets -- segments set to perform solidly in the year ahead. Department stores and specialty retailers will continue to face sales and earnings pressure; however, the pace of declines in these sectors will likely moderate to a level that will not materially weaken the overall U.S. retail credit...
Mexican Municipalities: Benchmark Rate Reductions Easing Borrowing Costs, But Market Challenges Remain Mexican Municipalities: Benchmark Rate Reductions Easing Borrowing Costs, But Market Challenges Remain 2009-10-28
...Since the peak of the global financial crisis in September ####, Mexican municipal sector lenders have been demanding larger risk premiums across rating levels. During the initial period of financial turbulence, the Central Bank of Mexico (CBM) did not pursue the same course of action as many other central banks, increasing its benchmark rate in the #...
Municipios Mexicanos: La Reducci=n en la Tasa de Referencia ha Compensando el Costo de Financiamiento, pero los Retos Contin·an (Spanish) Municipios Mexicanos: La Reducci=n en la Tasa de Referencia ha Compensando el Costo de Financiamiento, pero los Retos Contin·an (Spanish) 2009-10-28
...Desde la parte más álgida de la crisis financiera en septiembre del ####, los prestamistas del sector municipal han aumentado los premios de riesgo para todos los niveles de calificación. Durante este periodo de turbulencia financiera, el Banco de México (Banxico) no siguió el mismo camino que la mayoría de los bancos centrales. El Banco de México elevó la tasa de referencia en el # º trimestre de #### manteniéndola en este nivel en el # º trimestre del mismo año. Estas acciones provocaron un cambio en el costo medio de los préstamos para los municipios. En los primeros tres trimestres del ####, el Banxico inició una serie de agresivas reducciones en su tasa de interés de referencia, las cuales ahora están facilitando el costo de la deuda municipal. En resumen nuestras conclusiones son las siguientes: Las acciones en la tasa de referencia han facilitado el costo de la deuda municipal--Desde septiembre del ####, los premios de riesgo en las obligaciones de deuda no garantizadas se han incrementado...
Itau Unibanco S.A. Itau Unibanco S.A. 2009-10-28
...Moody's assigns a bank financial strength rating (BFSR) of B- to Itaú Unibanco S.A. (IU). The rating outlook is stable. In November ####, following the announcement of the association with Unibanco, Moody's affirmed the ratings as the integration of two very important franchises ­a combination that enhances the new entity's earnings-generation capacity. This enhancement should be achieved by new synergies and by greater economies of scale, as well as by balance sheet strength and a more robust response to the sector's intensifying competition. IU's rating reflects the bank's broad and diversified franchise, which boasts solid market positions in business segments that are core to its strategy. Vigorous, recurrent earnings derive from a nationwide footprint and a sizable client base, which is now reinforced by Unibanco's integration. Both banks' history of inorganic growth reduces potential attrition risks that could arise from the merger of two major banking platforms. Performance is supported...
AEGON USA Life Group (Cons) AEGON USA Life Group (Cons) 2009-10-28
...Moody's A# insurance financial strength (IFS) rating (outlook: negative) of the seven key operating life insurance companies in the AEGON USA Life Group (AEGON USA) is based on the group's leading position in the U.S. life insurance and asset accumulation markets, strong business line and distribution diversification, and generally good profitability in its core businesses. The rating also reflects the group's importance to its ultimate parent company, AEGON N.V. (AEGON), as the largest component of its global assets, revenue, and income. These strengths are mitigated by the group's significant exposure to higher risk securities (including U.S. financial sector securities, residential mortgage-backed and asset-backed securities (RMBS and ABS, respectively), commercial mortgage-backed, and alternative investments). We expect these securities, as well as direct commercial mortgage loans, to be the source of continuing asset losses and ratings migrations in ####. This, together with an increasing...
Turning the Corner? Ratings Suggest an Upturn (Portguese translation) Turning the Corner? Ratings Suggest an Upturn (Portguese translation) 2009-10-28
...As tendências de rating para empresas não financeiras nas Américas indicam qualidade de crédito fortalecendo e uma possível ressurgimento após a desaceleração econômica. Menos rebaixamentos de ratings e melhora da liquidez são consistentes com nossa previsão de queda acentuada da taxa de default de grau especulativo, após alcançar seu pico em novembro. Nossos ratings corporativos detectaram, de maneira precisa, as dificuldades financeiras dos emissores durante a crise bem antes do default terem occorido. Durante o pior período de crise econômica, desde a Grande Depressão, os ratings da Moody's continuaram sendo indicadores estáveis do risco de crédito relativo. A volatilidade e precisão dos ratings têm mantido padrões de longo prazo....
William Hill plc William Hill plc 2009-10-28
...William Hill plc (WH) is a leading UK betting and gaming company with approximately #,### licensed betting shops (#,### in the UK and ## in the Republic of Ireland). In ####, the company had over ##,### employees. WH offers fixed-odds betting, gaming machines (#,### machines across the network) and online gaming through three principal channels: retail, online and telephone. Retail - This activity comprises licensed betting offices (LBOs) that offer over the counter (OTC) fixed-odds betting products and gaming machines; ##% of gross win in the retail stores comes from machines, ##% from horseracing, ##% from greyhounds and ##% from football. After the acquisition of Stanley Leisure LBOs in the UK and Ireland in #### for £### million, WH became the UK's largest bookmaker by number of LBOs. Online - Key products in the online channel include sports betting, casino, poker, bingo and skill games. WH has a market leading position in the UK although this has eroded over the past few years due...
Muskoka, District Municipality of Muskoka, District Municipality of 2009-10-28
...The District Municipality of Muskoka's Aa# issuer rating is supported by consistent positive operating performance, generating surpluses to fund infrastructure needs. The rating also reflects a moderate debt burden as well as modest but increasing levels of net cash and investments. The maturity and stability inherent in the institutional framework governing how Ontario municipalities operate also supports the District Municipality of Muskoka's Aa# issuer rating....
Evraz Group S.A. Evraz Group S.A. 2009-10-28
...R) of B# and senior unsecured rating of B# (both carrying a negative outlook), is one of the largest vertically d assets). It also has assets in . It produced ##.# million tonnes roducts in ####, and reported and EBITDA of US$#.## e company reported US$#.# billion in revenue (##.#% decline vs. #H ####) and EBITDA of US$### million (##.#% n plants: NTMK in the Urals region and Zapsib and NKMK in Siberia. The company also owns Evraz Palini e Bertoli in Italy, Evraz Vitkovice Steel in the Czech Republic, and Evraz Inc. NA (comprising Oregon Steel Mills and Claymont Steel) in the US. In ####, it acquired IPSCO's Canadian pipe business, which now bears the name of Evraz Inc. Canada. Evraz has a presence in South Africa through its ownership of Highveld Steel and Vanadium Corporation. In ####, it also made its first investments in the Asia Pacific region by acquiring ##% of Chinese steel manufacturer Delong Holdings....
Gracechurch Mortgage Financing Series 2009-1 Notes Gracechurch Mortgage Financing Series 2009-1 Notes 2009-10-28
...www.moodys.com # Master Trust structures are continuously substituting subject to certain criteria. A Master Trust structure is deemed to be socialist when a reserve fund is held at the level of a Funding company and is available for all issuers out of this Funding company....
Moody's Fully Supported Municipal & IRB Deals Moody 2009-10-28
Global Credit Research Announcement ## OCT #### Announcement: Moody's Fully Supported Municipal & IRB Deals New York, October ##, #### -- ASSIGNMENTS Indiana Finance Authority, Variable Rate Demand Revenue Bonds US$ ##.##M Ser. ####A,...
Supplement to Moody's worldwide rating actions for October 27, 2009 Supplement to Moody 2009-10-28
Global Credit Research Announcement ## OCT #### Announcement: Supplement to Moody's worldwide rating actions for October ##, #### New York, October ##, #### -- Moody's Investors Service has issued press releases on the following rating...
Permanent Master Issuer PLC Series 2009-1 Permanent Master Issuer PLC Series 2009-1 2009-10-28
...Footnotes - General Information # Date format throughout report is DD/MM/YYYY. Footnotes - Rating Opinion and General Commentary Footnotes - Capital Structure # Residual tranches are not considered for any of the total amount or total % calculations. #A: EUR - GBP = #.#### # The Percentages may not add up to ###% due to rounding or a tranche(s) having a rating not in the categories displayed. Footnotes - Portfolio and Performance Data # TRR (Total Redemption Rate) Footnotes - Trigger Description Delinquencies - Stop Substitution: Substitution is stopped when, amongst others, delinquencies >## days exceed #% PDL - Stop Substitution: Substitution is stopped when, amongst others, the PDL is greater than zero PDL - Other: Product switch is stopped when, amongst others, the PDL is greater than zero Delinquencies - Other: Product switch is stopped when, amongst others, delinquencies >## days exceed #% Principal - Principal Distribution: Principal is deferred on subordinated tranches if ##+ day...
CB MezzCAP Limited Partnership CB MezzCAP Limited Partnership 2009-10-28
...Footnotes - General Information # Date format throughout report is DD/MM/YYYY. Footnotes - Rating Opinion and General Commentary Footnotes - Capital Structure Footnotes - Portfolio and Performance Data...
TS Co.mit One GmbH SSD CLO TS Co.mit One GmbH SSD CLO 2009-10-28
...Footnotes - General Information # Date format throughout report is DD/MM/YYYY. Footnotes - Rating Opinion and General Commentary Footnotes - Capital Structure Footnotes - Portfolio and Performance Data...
Entry Funding No.1 plc Entry Funding No.1 plc 2009-10-28
...Footnotes - General Information # Date format throughout report is DD/MM/YYYY. Footnotes - Rating Opinion and General Commentary Footnotes - Capital Structure Footnotes - Portfolio and Performance Data...
MOODY'S ASSIGNS Aa2 RATING TO CHILDREN'S HOSPITAL'S SERIES 2009M FIXED RATE BONDS ($126.43 MILLION); OUTLOOK IS STABLE; Aa2 RATINGS AFFIRMED MOODY 2009-10-28
Global Credit Research New Issue ## OCT #### New Issue: Massachusetts Health & Educ. Fac. Auth MOODY'S ASSIGNS Aa# RATING TO CHILDREN'S HOSPITAL'S SERIES ####M FIXED RATE BONDS ($###.## MILLION); OUTLOOK IS STABLE; Aa# RATINGS AFFIRMED...
Moody's: Insurance brokerage outlook remains stable as firms adapt to challenging market Moody 2009-10-28
Global Credit Research Announcement ## OCT #### Announcement: Moody's: Insurance brokerage outlook remains stable as firms adapt to challenging market New York, October ##, #### -- A soft commercial P&C market, the weak global economy...
Moody's reports on U.S. REIT and REOC deleveraging: more to be done Moody 2009-10-28
Global Credit Research Announcement ## OCT #### Announcement: Moody's reports on U.S. REIT and REOC deleveraging: more to be done New York, October ##, #### -- U.S. real estate investment trusts and operating companies (REITs and REOCs)...
Moody's: Effective risk management practices remain a major issue for many CIS banks Moody 2009-10-28
Global Credit Research Announcement ## OCT #### Announcement: Moody's: Effective risk management practices remain a major issue for many CIS banks London, ## October #### -- In a new Special Comment, Moody's Investors Service analyses...
Moody's worldwide rating actions for October 27, 2009 Moody 2009-10-28
Global Credit Research Announcement ## OCT #### Announcement: Moody's worldwide rating actions for October ##, #### New York, October ##, #### -- Moody's Investors Service has issued press releases on the following rating actions:...
MOODY'S WITHDRAWS THE Aaa/VMIG 1 RATING OF THE NEW JERSEY TRANSPORTATION TRUST FUND AUTHORITY TRANSPORTATION SYSTEM BONDS, 2009 SERIES C MOODY 2009-10-28
Global Credit Research Rating Update ## OCT #### Rating Update: New Jersey Transportation Trust Fund Auth. MOODY'S WITHDRAWS THE Aaa/VMIG # RATING OF THE NEW JERSEY TRANSPORTATION TRUST FUND AUTHORITY TRANSPORTATION SYSTEM BONDS, ####...
MOODY'S AFFIRMS ERLANGER HEALTH SYSTEM'S A3 RATING IN CONJUNCTION WITH PROPOSED CONVERSION OF SERIES 2000 & 2004 BONDS TO FIXED RATE FROM AUCTION RATE MOODY 2009-10-28
Global Credit Research Rating Update ## OCT #### Rating Update: Erlanger Health System, TN MOODY'S AFFIRMS ERLANGER HEALTH SYSTEM'S A# RATING IN CONJUNCTION WITH PROPOSED CONVERSION OF SERIES #### & #### BONDS TO FIXED RATE FROM AUCTION...
MOODY'S DOWNGRADES TO Ba1 FROM Baa3 GULF COUNTY'S (FL) UNDERLYING LIMITED AD VALOREM TAX BOND RATING MOODY 2009-10-28
Global Credit Research Rating Update ## OCT #### Rating Update: Gulf (County of) FL MOODY'S DOWNGRADES TO Ba# FROM Baa# GULF COUNTY'S (FL) UNDERLYING LIMITED AD VALOREM TAX BOND RATING $#.# MILLION IN OUTSTANDING PARITY DEBT AFFECTED...
MOODY'S CONFIRMS RICHARDSON HOSPITAL AUTHORITY'S (TX) Baa2 RATING, REMOVING THE RATING FROM WATCHLIST; OUTLOOK IS NEGATIVE MOODY 2009-10-28
Global Credit Research Rating Update ## OCT #### Rating Update: Richardson Hospital Authority, TX MOODY'S CONFIRMS RICHARDSON HOSPITAL AUTHORITY'S (TX) Baa# RATING, REMOVING THE RATING FROM WATCHLIST; OUTLOOK IS NEGATIVE RICHARDSON...
MOODY'S MAINTAINS A3 RATING ON RICHLAND-LEXINGTON AIRPORT DISTRICT'S OUTSTANDING REVENUE BONDS; OUTLOOK IS STABLE MOODY 2009-10-28
Global Credit Research Rating Update ## OCT #### Rating Update: Richland-Lexington Airport District, SC MOODY'S MAINTAINS A# RATING ON RICHLAND-LEXINGTON AIRPORT DISTRICT'S OUTSTANDING REVENUE BONDS; OUTLOOK IS STABLE A# RATING APPLIES...
MOODY'S DOWNGRADES TULSA HOUSING ASSISTANCE CORPORATION FIRST LIEN REVENUE BONDS, REFUNDING SERIES 2001A (MURDOCK VILLA); OUTLOOK CHANGED TO NEGATIVE MOODY 2009-10-28
Global Credit Research Rating Update ## OCT #### Rating Update: Murdock Villa, OK MOODY'S DOWNGRADES TULSA HOUSING ASSISTANCE CORPORATION FIRST LIEN REVENUE BONDS, REFUNDING SERIES ####A (MURDOCK VILLA); OUTLOOK CHANGED TO NEGATIVE...
MOODY'S AFFIRMS RATINGS FOR TARRANT COUNTY HOUSING FINANCE CORPORATION, MULTIFAMILY HOUSING REVENUE BONDS (CROSSROADS APARTMENT PROJECT) SERIES 2001A AND SERIES 2001C; OUTLOOK REMAINS STABLE MOODY 2009-10-28
Global Credit Research Rating Update ## OCT #### Rating Update: Crossroads Apartments, TX MOODY'S AFFIRMS RATINGS FOR TARRANT COUNTY HOUSING FINANCE CORPORATION, MULTIFAMILY HOUSING REVENUE BONDS (CROSSROADS APARTMENT PROJECT) SERIES...
Moody's ABCP rating actions ending October 26, 2009 Moody 2009-10-28
Global Credit Research Announcement ## OCT #### Announcement: Churchill Loan Asset Securitisation Programme, LLC Moody's ABCP rating actions ending October ##, #### New York, October ##, #### -- Moody's ABCP rating actions for the...
Moody's says no rating impact on Unicredit Group RMBS from ARCA Project Moody 2009-10-28
Global Credit Research Announcement ## OCT #### Announcement: Cordusio RMBS - UCFin S.r.l. - Series #### Moody's says no rating impact on Unicredit Group RMBS from ARCA Project Milan, October ##, #### -- Moody's Investors Service said...
Moody's rates notes issued by Nelnet Student Loan Trust 2009-2 Moody 2009-10-28
Global Credit Research Rating Action ## OCT #### Rating Action: Nelnet Student Loan Trust ####-# Moody's rates notes issued by Nelnet Student Loan Trust ####-# $### million of asset-backed securities rated New York, October ##, ####...
Moody's announces plans for structured ratings indicator Moody 2009-10-28
Global Credit Research Announcement ## OCT #### Announcement: Moody's announces plans for structured ratings indicator London, ## October #### -- Moody's Investors Service has announced preliminary plans to add an indicator to its...
Moody's insurer ratings contrast with CDS spreads during financial crisis Moody 2009-10-28
Global Credit Research Announcement ## OCT #### Announcement: Moody's insurer ratings contrast with CDS spreads during financial crisis New York, October ##, #### -- In a new report, Moody's Investors Service discusses the significant...
Moody's changes U.S. Automotive Parts Suppliers industry outlook to stable from negative Moody 2009-10-28
Global Credit Research Announcement ## OCT #### Announcement: Moody's changes U.S. Automotive Parts Suppliers industry outlook to stable from negative New York, October ##, #### -- Moody's Investors Service today changed the Industry...
Moody's confirms ratings of Egg Banking's credit card receivables-backed ABS notes issued by Pillar Funding Series 2005-1 PLC Moody 2009-10-28
Global Credit Research Rating Action ## OCT #### Rating Action: Pillar Funding Series ####-# PLC Moody's confirms ratings of Egg Banking's credit card receivables-backed ABS notes issued by Pillar Funding Series ####-# PLC Approximately...
Moody's downgrades SF CDO notes of Sheffield CDO, Ltd Moody 2009-10-28
Global Credit Research Rating Action ## OCT #### Rating Action: Sheffield CDO, Ltd. Moody's downgrades SF CDO notes of Sheffield CDO, Ltd Approximately USD #.# million of debt securities affected London, ## October #### -- Moody's...
Moody's places three CMBS Notes issued by Fornax (2006-2) B.V. on review for possible downgrade Moody 2009-10-28
Global Credit Research Rating Action ## OCT #### Rating Action: Fornax (Eclipse ####-#) B.V. Moody's places three CMBS Notes issued by Fornax (####-#) B.V. on review for possible downgrade EUR ### Million of CMBS affected London, ##...
Moody's downgrades the ratings of $570MM of notes issued by Goldman Sachs Specialty Lending CLO-I, Ltd. Moody 2009-10-28
Global Credit Research Rating Action ## OCT #### Rating Action: Goldman Sachs Specialty Lending CLO-I, Ltd. Moody's downgrades the ratings of $###MM of notes issued by Goldman Sachs Specialty Lending CLO-I, Ltd. Moody's also upgrades...
Moody's actions 5 classes of SME CLO notes of TS Co.mit One Moody 2009-10-28
Global Credit Research Rating Action ## OCT #### Rating Action: TS Co.mit One GmbH SSD CLO Moody's actions # classes of SME CLO notes of TS Co.mit One Approx. EUR ## million of debt securities affected London, ## October #### -- Moody's...
Moody's: Citation High Grade ABS ratings unaffected by Change in Manager Moody 2009-10-28
Global Credit Research Announcement ## OCT #### Announcement: Citation High Grade ABS CDO I, Ltd. Moody's: Citation High Grade ABS ratings unaffected by Change in Manager New York, October ##, #### -- Moody's Investors Service has...
Moody's downgrades all but most senior notes of Malin CLO BV Moody 2009-10-28
Global Credit Research Rating Action ## OCT #### Rating Action: Malin CLO B.V. Moody's downgrades all but most senior notes of Malin CLO BV EUR ### million of debt securities affected Paris, October ##, #### -- Moody's Investors Service...
Moody's: Ares IIIR/IVR CLO ratings unaffected by supplemental indenture Moody 2009-10-28
Global Credit Research Announcement ## OCT #### Announcement: Ares IIIR/IVR CLO Ltd. Moody's: Ares IIIR/IVR CLO ratings unaffected by supplemental indenture New York, October ##, #### -- Moody's Investors Service has determined that...
Moody's downgrades the ratings of $382MM of CLO notes issued by CapitalSource Commercial Loan Trust 2007-1 Moody 2009-10-28
Global Credit Research Rating Action ## OCT #### Rating Action: CapitalSource Commercial Loan Trust ####-# Moody's downgrades the ratings of $###MM of CLO notes issued by CapitalSource Commercial Loan Trust ####-# New York, October...
Moody's withdraws the rating of $11MM of Class E Notes issued by ColumbusNova CLO IV Ltd. 2007-II due to note cancellation Moody 2009-10-28
Global Credit Research Rating Action ## OCT #### Rating Action: ColumbusNova CLO IV Ltd. ####-II Moody's withdraws the rating of $##MM of Class E Notes issued by ColumbusNova CLO IV Ltd. ####-II due to note cancellation New York, October...
Moody's: Madison Park Funding VI, Ltd. ratings unaffected by Interest Rate Cap Moody 2009-10-28
Global Credit Research Announcement ## OCT #### Announcement: Madison Park Funding VI, Ltd. Moody's: Madison Park Funding VI, Ltd. ratings unaffected by Interest Rate Cap New York, October ##, #### -- Moody's Investors Service has...
Moody's: SKM-LibertyView CBO I Limited ratings unaffected by Change in Manager Moody 2009-10-28
Global Credit Research Announcement ## OCT #### Announcement: SKM-Libertyview CBO I Limited Moody's: SKM-LibertyView CBO I Limited ratings unaffected by Change in Manager New York, October ##, #### -- Moody's Investors Service has...
Moody's downgrades the ratings of $17MM of notes issued by FMA CBO Funding II Moody 2009-10-28
Global Credit Research Rating Action ## OCT #### Rating Action: FMA CBO Funding II Moody's downgrades the ratings of $##MM of notes issued by FMA CBO Funding II New York, October ##, #### -- Moody's Investors Service announced today...
Moody's places Links and Parkland SIVs on review for downgrade Moody 2009-10-28
Global Credit Research Rating Action ## OCT #### Rating Action: Parkland Finance Corporation and Parkland (USA) LLC Moody's places Links and Parkland SIVs on review for downgrade London, ## October #### -- Moody's Investors Service...
Moody's withdraws ratings of notes issued by Heather Finance LTD Moody 2009-10-28
Global Credit Research Rating Action ## OCT #### Rating Action: Heather Finance Limited Series ####-## Moody's withdraws ratings of notes issued by Heather Finance LTD EUR ##.# million of debt securities affected London, ## October...
Moody's updates on the performance of Aquila (Eclipse 2005-1) plc CMBS Moody 2009-10-28
Global Credit Research Announcement ## OCT #### Announcement: AQUILA (ECLIPSE ####-#) plc Moody's updates on the performance of Aquila (Eclipse ####-#) plc CMBS Class C Notes remain on review with direction uncertain London, ## October...
Moody's withdraws ratings on 2 CLO combo notes of Duchess IV CLO B.V. Moody 2009-10-28
Global Credit Research Rating Action ## OCT #### Rating Action: Duchess IV CLO B.V. Moody's withdraws ratings on # CLO combo notes of Duchess IV CLO B.V. EUR ##.##m of Securities affected London, ## October #### -- Moody's Investors...
Moody's changes ratings outlook of Samsung Electronics to stable Moody 2009-10-28
Global Credit Research Rating Action ## OCT #### Rating Action: Samsung Electronics Co., Ltd. Moody's changes ratings outlook of Samsung Electronics to stable Approximately US$### million of debt securities affected Hong Kong, October...
Moody's assigns Ba3 rating to Agile's USD notes; outlook positive Moody 2009-10-28
Global Credit Research Rating Action ## OCT #### Rating Action: Agile Property Holdings Limited Moody's assigns Ba# rating to Agile's USD notes; outlook positive Hong Kong, October ##, #### -- Moody's Investors Service has today assigned...
Moody's downgrades Chartered; still under review with uncertain direction Moody 2009-10-28
Global Credit Research Rating Action ## OCT #### Rating Action: Chartered Semiconductor Manufacturing Ltd. Moody's downgrades Chartered; still under review with uncertain direction Approximately US$### million of debt securities affected...
Moody's downgrades apoBank's BFSR to D from C; negative outlook Moody 2009-10-28
Global Credit Research Rating Action ## OCT #### Rating Action: Capital Issuing GmBH Moody's downgrades apoBank's BFSR to D from C; negative outlook A#/Prime-# senior debt ratings affirmed, with outlook changed to negative Frankfurt,...
Moody's rates Freedom Group's new senior secured notes B2; outlook stable Moody 2009-10-28
Global Credit Research Rating Action ## OCT #### Rating Action: Freedom Group, Inc. Moody's rates Freedom Group's new senior secured notes B#; outlook stable New York, October ##, #### -- Moody's Investors Service assigned a B# rating...
Moody's assigns B2 rating to new secured notes; revises outlook to stable Moody 2009-10-28
Global Credit Research Rating Action ## OCT #### Rating Action: AMH Holdings, LLC Moody's assigns B# rating to new secured notes; revises outlook to stable Approximately $### million of debt affected New York, October ##, #### -- Moody's...
Moody's Assigns ratings to Continental's 2009-2 EETC Moody 2009-10-28
Global Credit Research Rating Action ## OCT #### Rating Action: Continental Airlines, Inc. Moody's Assigns ratings to Continental's ####-# EETC Approximately $### Million of Debt Securities Rated New York, October ##, #### -- Moody's...
Moody's upgrades Chrysler Financial to Caa3 Moody 2009-10-28
Global Credit Research Rating Action ## OCT #### Rating Action: Chrysler Financial Services Americas LLC Moody's upgrades Chrysler Financial to Caa# New York, October ##, #### -- Moody's Investors Service upgraded the corporate family...
Moody's assigns Aa2/P-1 to Instituto Valenciano de Finanzas (Spain); outlook negative Moody 2009-10-28
Global Credit Research Rating Action ## OCT #### Rating Action: Instituto Valenciano de Finanzas Moody's assigns Aa#/P-# to Instituto Valenciano de Finanzas (Spain); outlook negative Madrid, October ##, #### -- Moody's Investors Service...
Moody's asigna al Instituto Valenciano de Finanzas el rating Aa2/P-1 con perspectiva negativa Moody 2009-10-28
Global Credit Research Rating Action ## OCT #### Rating Action: Instituto Valenciano de Finanzas Moody's asigna al Instituto Valenciano de Finanzas el rating Aa#/P-# con perspectiva negativa Madrid, October ##, #### -- Moody's Investors...
Moody's indica que las calificaciones de Telef=nica de Argentina de B2/Aa3.ar permanecen sin cambio posterior a la oferta de compra de bonos Moody 2009-10-28
Global Credit Research Announcement ## OCT #### Announcement: Telefonica de Argentina S.A. Moody's indica que las calificaciones de Telefnica de Argentina de B#/Aa#.ar permanecen sin cambio posterior a la oferta de compra de bonos...
Moody's Comments on Bunge Financial Performance Moody 2009-10-28
Global Credit Research Announcement ## OCT #### Announcement: Bunge Limited Finance Corp. Moody's Comments on Bunge Financial Performance New York, October ##, #### -- Moody's Investors Service commented that Bunge Ltd.'s Baa# long-term...
Moody's places property related UK WBS Notes issued by Punch Taverns Finance plc on review for possible downgrade Moody 2009-10-28
Global Credit Research Rating Action ## OCT #### Rating Action: Punch Taverns Group Moody's places property related UK WBS Notes issued by Punch Taverns Finance plc on review for possible downgrade GBP #,### million of WBS/Property...
Moody's downgrades ING Insurance's ratings. ING Group and ING Bank' s ratings remain on review for possible downgrade. Moody 2009-10-28
Global Credit Research Rating Action ## OCT #### Rating Action: ING Belgium SA/NV Moody's downgrades ING Insurance's ratings. ING Group and ING Bank' s ratings remain on review for possible downgrade. London, ## October #### -- Moody's...
Moody's downgrades Beverage Packaging to B2 Moody 2009-10-28
Global Credit Research Rating Action ## OCT #### Rating Action: Beverage Packaging Holdings (Lux) II S.A. Moody's downgrades Beverage Packaging to B# Approximately EUR # billion of rated debt affected Frankfurt, October ##, #### --...
Moody's assigns Aaa ratings to New South Wales' Commonwealth-Guaranteed bonds Moody 2009-10-28
Global Credit Research Rating Action ## OCT #### Rating Action: New South Wales (State of) Australia Moody's assigns Aaa ratings to New South Wales' Commonwealth-Guaranteed bonds Sydney, October ##, #### -- Moody's Investors Service...
Moody's downgrades Gibson; ratings on review for possible further downgrade Moody 2009-10-28
Global Credit Research Rating Action ## OCT #### Rating Action: Gibson Guitar Corp. Moody's downgrades Gibson; ratings on review for possible further downgrade New York, October ##, #### -- Moody's Investors Service downgraded Gibson...
Moody's assigns first-time IFSR of B2 to Azerbaijan based International Insurance Company. Moody 2009-10-28
Global Credit Research Rating Action ## OCT #### Rating Action: International Insurance Company Moody's assigns first-time IFSR of B# to Azerbaijan based International Insurance Company. Stable Outlook London, ## October #### -- Moody's...
Moody's says Telefonica de Argentina's B2/Aa3.ar ratings unchanged following tender offer Moody 2009-10-28
Global Credit Research Announcement ## OCT #### Announcement: Telefonica de Argentina S.A. Moody's says Telefonica de Argentina's B#/Aa#.ar ratings unchanged following tender offer Approximately USD ### million of debt affected Buenos...
Moody's upgrades ASG's CFR to B2. Outlook Stable. Moody 2009-10-28
Global Credit Research Rating Action ## OCT #### Rating Action: Allen Systems Group, Inc. Moody's upgrades ASG's CFR to B#. Outlook Stable. Approximately $### million of debt affected New York, October ##, #### -- Moody's Investors...
Moody's de Mexico assigns (P) Baa3/Aa2.mx ratings to a loan of the State of Mexico Moody 2009-10-28
Global Credit Research Rating Action ## OCT #### Rating Action: Mexico, State of Moody's de Mexico assigns (P) Baa#/Aa#.mx ratings to a loan of the State of Mexico Mexico City, October ##, #### -- Moody's de Mexico has assigned provisional...
Moody's de MTxico asigna calificaciones (P) Aa2.mx/Baa3 a un prTstamo bancario del Estado de MTxico Moody 2009-10-28
Global Credit Research Rating Action ## OCT #### Rating Action: Mexico, State of Moody's de Mxico asigna calificaciones (P) Aa#.mx/Baa# a un prstamo bancario del Estado de Mxico Mexico City, October ##, #### -- Moody's de Mxico ha...
Moody's says IBM's ratings not affected by increase in share buyback program Moody 2009-10-28
Global Credit Research Announcement ## OCT #### Announcement: International Business Machines Corporation Moody's says IBM's ratings not affected by increase in share buyback program New York, October ##, #### -- Moody's said that...
Moody's revises Waterford Gaming's rating outlook to stable Moody 2009-10-28
Global Credit Research Rating Action ## OCT #### Rating Action: Waterford Gaming Finance Corp. Moody's revises Waterford Gaming's rating outlook to stable New York, October ##, #### -- Moody's Investors Service today affirmed Waterford...
Asian Steel Sector Stabilizes Asian Steel Sector Stabilizes 2009-10-28
...We have revised our outlook for the Asian steel sector from negative to stable. The now-stable outlook reflects our view that fundamental credit conditions in the industry will improve over the next ## to ## months. Key issues are outlined below....
Mitsubishi UFJ Financial Group Mitsubishi UFJ Financial Group 2009-10-28
...Moody's assigns bank financial strength ratings (BFSR) of C and Baseline Credit Assessments (BCA) of A# to two subsidiary banks of Mitsubishi UFJ Financial Group Inc. (MUFG): Bank of Tokyo Mitsubishi UFJ, Ltd. (BTMU) and Mitsubishi UFJ Trust and Banking Corporation (MUTB). (Hereinafter, both will be referred to as "MUFG banks," given MUFG's status as a financial holding company.) The rating outlooks are stable for all ratings of BTMU and MUTB, including the BFSR....
Moody's assigns Aaa/P-1 ratings to FROB debt guaranteed by Spanish government Moody 2009-10-28
Global Credit Research Rating Action ## OCT #### Rating Action: Fondo de Reestructuracion Ordenada Bancario Moody's assigns Aaa/P-# ratings to FROB debt guaranteed by Spanish government London, ## October #### -- Moody's Investors...
Moody's assigns Ba1 to William Hill; stable outlook Moody 2009-10-28
Global Credit Research Rating Action ## OCT #### Rating Action: William Hill plc Moody's assigns Ba# to William Hill; stable outlook New rating London, ## October #### -- Moody's Investors Service has today assigned a Ba# corporate...
Moody's assigns B3 ratings to Michaels Stores' new Term Loan, upgrades to SGL-2 Moody 2009-10-28
Global Credit Research Rating Action ## OCT #### Rating Action: Michaels Stores, Inc. Moody's assigns B# ratings to Michaels Stores' new Term Loan, upgrades to SGL-# New York, October ##, #### -- Moody's Investors Service today assigned...
Moody's revises Mohegan Tribal Gaming's outlook to stable from negative Moody 2009-10-28
Global Credit Research Rating Action ## OCT #### Rating Action: Mohegan Tribal Gaming Authority Moody's revises Mohegan Tribal Gaming's outlook to stable from negative New York, October ##, #### -- Moody's Investors Service today revised...
MOODY'S ASSIGNS Aa3 ENHANCED RATING (KSDE) TO ERLANGER-ELSMERE I. S. D. FINANCE CORP'S (KY) $1.47 MILLION SCHOOL BUILDING REFUNDING REVENUE BONDS, SERIES OF 2009; OUTLOOK IS NEGATIVE MOODY 2009-10-28
Global Credit Research New Issue ## OCT #### New Issue: Erlanger-Elsmere Independent School Dist., KY MOODY'S ASSIGNS Aa# ENHANCED RATING (KSDE) TO ERLANGER-ELSMERE I. S. D. FINANCE CORP'S (KY) $#.## MILLION SCHOOL BUILDING REFUNDING...
MOODY'S ASSIGNS MIG 1 RATING TO METROPOLITAN AIRPORT AUTHORITY OF PEORIA'S (IL) $765,000 TAXABLE GO REFUNDING AIRPORT BONDS, SERIES 2009C AND $1.115 MILLION GO REFUNDING AIRPORT BONDS, SERIES 2009D MOODY 2009-10-28
Global Credit Research New Issue ## OCT #### New Issue: Metropolitan Airport Authority of Peoria, IL MOODY'S ASSIGNS MIG # RATING TO METROPOLITAN AIRPORT AUTHORITY OF PEORIA'S (IL) $###,### TAXABLE GO REFUNDING AIRPORT BONDS, SERIES...
MOODY'S ASSIGNS A2 RATING TO INDIANA STATE UNIVERSITY'S $5.9 MILLION OF HOUSING AND DINING SYSTEM BONDS, SERIES 2009A AND $7.9 MILLION OF HOUSING AND DINING SYSTEM REVENUE BONDS, SERIES 2009B (TAXABLE); OUTLOOK IS REVISED TO POSITIVE FROM STABLE MOODY 2009-10-28
Global Credit Research New Issue ## OCT #### New Issue: Indiana State University Board of Trustees MOODY'S ASSIGNS A# RATING TO INDIANA STATE UNIVERSITY'S $#.# MILLION OF HOUSING AND DINING SYSTEM BONDS, SERIES ####A AND $#.# MILLION...
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