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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2009-10-30:
Name Date
Bluebonnet Finance p.l.c. Bluebonnet Finance p.l.c. 2009-10-30
...Type of transaction: CMBS / NPL / sequential pay Issuer: Bluebonnet Finance p.l.c. Trustee: Capita Trust Company Limited Servicer: Morgan Stanley Mortgage Servicing Limited Sub-Servicer: Hudson Advisors Germany GmbH (SQ#+) Liquidity Facility Provider: N/A*...
Supplement to Moody's worldwide rating actions for October 29, 2009 Supplement to Moody 2009-10-30
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...
Moody's Fully Supported Municipal & IRB Deals Moody 2009-10-30
Global Credit Research Announcement ## OCT #### Announcement: Moody's Fully Supported Municipal & IRB Deals New York, October ##, #### -- ASSIGNMENTS Arizona Health Facilities Authority, Variable Rate Revenue Bonds US$ ##.##M Ser....
Annual Outlook: North American Railroads Poised for Slow Recovery Annual Outlook: North American Railroads Poised for Slow Recovery 2009-10-30
...Our outlook for the North American railroad industry is stable. This outlook expresses our expectations for the fundamental credit conditions in the industry over the next ## to ## months. We expect railroad freight volumes to recover slowly from their cyclical trough, with carloads up #% to #% in #### and ##% in ####. Demand will remain well below recent peak levels for some time. Despite pressure on demand, railroads' pricing power should hold up due to service improvements and repricing of unfavorable legacy contracts. Regulatory factors are looming, but there are no immediate threats....
OeBB-Infrastruktur AG OeBB-Infrastruktur AG 2009-10-30
... Bau AG, (OeBB-Infrastruktur, rated Aaa with stable outlook) is the legal successor of Oesterreichische Bundesbahnen, based on Section ## of the Federal Railways Act, as amended in December #### to comply with EU regulations aimed at liberalising the European rail transport market. It is a ###% subsidiary of OeBB-Holding AG (OeBB-Holding), which in turn is ###% owned by the Republic of Austria. In August ####, the Federal Railways Act was further amended to implement the merger of OeBB-Infrastruktur Betrieb AG (OeBB-Betrieb) into OeBB-Infrastruktur Bau AG (OeBB-Bau). The Austrian government's objective in carrying out this merger, which became effective retrospectively as of # January ####, was to increase operating efficiency and to realise synergies between the two infrastructure companies. The company was renamed OeBB-Infrastruktur Aktiengesellschaft and is now both owner and manager of the infrastructure network. Moody's expects the...
Deutsche Bahn AG Deutsche Bahn AG 2009-10-30
...Deutsche Bahn AG ("DB"; rated Aa#, with stable outlook), headquartered in Berlin, Germany, is an integrated rail and logistics group that owns and operates the German national rail transportation network. The group is one of the largest rail and logistics companies worldwide, generating revenues of ##.# billion in ####. As a vertically-integrated rail and logistics group, DB combines under its holding umbrella infrastructure activities, notably the rail track infrastructure, and passenger and freight transportation services. The company is the market leader in the European rail freight business, as well as the largest provider of road transport in Europe and a leading sea & air freight and logistics group worldwide....
Global Base Metals Set for Slow and Uneven Recovery Global Base Metals Set for Slow and Uneven Recovery 2009-10-30
...The outlook for the Global Base Metals industry is stable. This outlook expresses Moody's expectations for the fundamental credit conditions in the industry over the next ## to ## months. The deterioration in price and demand has bottomed for the global base ot likely to return to the extreme Prices for global base metals have been moving upward since first- inese government stockpiling, lar. However, we do not y in global end-market hile we see evidence of re-stocking, global base metal demand more strongly in Latin America and Asia--especially China and India--but remains weak in Europe and the U.S. We would not be surprised to see prices weaken from current levels (see chart on page # for our price assumptions). Various government stimulus programs have supported demand, but recovery will require a rebound in private-sector consumption globally. Chinese demand levels may or may not prove sustainable during the next ##-## months. We foresee a gradual rise in production costs over the...
Annual Outlook: U.S. Auto Parts Suppliers To Gain From Car Sales Rise Annual Outlook: U.S. Auto Parts Suppliers To Gain From Car Sales Rise 2009-10-30
...Our sector outlook for U.S. automotive parts suppliers is stable. This outlook expresses our expectations for the fundamental credit conditions in the industry over the next ## to ## months. Our stable outlook for the U.S. automotive parts suppliers anticipates that light-vehicle sales will rise ##% in the U.S. and #% worldwide in ####, supporting increased automotive production. While we see global vehicle production stabilizing, it will remain historically low for several years. Global production of commercial vehicles will lag, with improvement unlikely before the second half of ####. Vehicle sales will remain under pressure in Europe in #### because government support programs for automakers accelerated demand into ####. We expect Detroit-# market share to remain under pressure, which will weigh on U.S. parts suppliers with significant exposure to the domestic automakers....
Cassa Depositi e Prestiti S.p.A. Cassa Depositi e Prestiti S.p.A. 2009-10-30
...Moody's assigns a Baseline Credit Assessment (BCA) of # and long-term and short-term issuer and debt ratings of Aa# and Prime-# to Cassa Depositi e Prestiti (CDP). In accordance with Moody's Government-Related Issuers (GRI) rating methodology for non-banking financial institutions, the ratings of CDP reflect the combination of the following revised inputs: BCA of # (on a scale of # to ##, where # represents the lowest credit risk) Aaa as proxy of the systemic support (Italian government's rating of Aa# plus two notches) High dependence High support CDP's BCA is # and reflects the statutory majority ownership by the Italian State with significant government involvement and supervision of CDP's business activities. The BCA is also underpinned by CDP's low risk profile and long- established dominant position in public-sector financing, while also taking into account the sizeable market risk in its banking book. While we expect low support from EU Institutions given CDP's limited and specialised...
Prostejov, City of (Czech translation) Prostejov, City of (Czech translation) 2009-10-30
...Národní rating msta Prostjov na úrovni Aa#.cz odrází adu faktor, zejména jeho velmi dobré provozní výsledky a nízkou zadluzenost. Omezujícím faktorem ratingu je rozsáhlý investicní plán msta, jehoz realizace je doprovázena podstatným snizováním financních rezerv. Ve stedndobém výhledu jsou vsak prostedky na financování investic zajistny významným objemem majetku k prodeji. Ratingové hodnocení zohleduje také ocekávaný pokles píjm v letech #### a #### související s poklesem ekonomiky a také systém financování samospráv, který dává mstm v Ceské republice omezený prostor pruzn ovlivovat a ídit své bzné píjmy a výdaje....
Bolivia Bolivia 2009-10-30
...Bolivia's foreign and local currency government bond ratings were upgraded to B# on September ##, ####, based on improved credit metrics and a reduction of the (still high) domestic political turmoil. The outlook remains stable. Looking forward, further reductions in domestic political differences could lead to a positive rating action. A significant increase in political turmoil that leads to policy missteps, on the other hand, could result in a downgrade. Bolivia's low economic strength is a key ratings constraint. The country remains one of the poorest nations in the world despite over two decades of reforms and substantive support by international multilateral institutions. Heavy dependence on external revenues and a lack of formal rules governing fiscal savings rank Bolivia as having a low level of government financial strength, although this is balanced by a substantial increase in fiscal savings. Bolivia's ratings incorporate the country's high susceptibility to event risk, which...
General Obligation Bonds Issued by U.S. Local Governments General Obligation Bonds Issued by U.S. Local Governments 2009-10-30
...This methodology report provides a detailed explanation of how Moody's evaluates the credit quality of bonds issued by counties, cities, school districts and other special districts in the United States that are backed by the entity's ad valorem taxing power. General Obligation (GO) ratings are forward-looking assessments of relative creditworthiness, based on Moody's analysis of four broad rating factors: Economic Strength Financial Strength Management and Governance Debt Profile Moody's employs a weighted average approach to analyzing these factors to arrive at a rating range. The precise rating is based on a comparison with peers, interactions of the individual factors, and additional considerations that may not adequately be captured within the factors. While this framework is comprehensive, it still may not adequately capture the complex web of economic, financial and political issues that affect a local government's relative creditworthiness. Therefore, some of our general obligation...
Potential Risks of Variable Rate Debt and Interest Rate Swaps for U.S. State and Local Governments are Heightened by Economic and Financial Crisis Potential Risks of Variable Rate Debt and Interest Rate Swaps for U.S. State and Local Governments are Heightened by Economic and Financial Crisis 2009-10-30
...The market turmoil of the past two years has exacerbated the potential risks of variable rate debt and interest rate swaps for U.S. state and local governments. For some issuers, these once hypothetical risks have recently been realized, causing unprecedented financial stress. This special comment describes the potential risks of variable rate debt and swaps for state and local government issuers, the ways in which Moody's measures an issuer's exposure to the risks, and the factors that limit an issuer's vulnerability to the risks. In our assessment, the majority of Moody's rated municipal issuers of variable rate debt and swaps have thus far managed these risks without adversely impacting credit quality....
Fortis Bank (Nederland) N.V. Covered Bond Programme Fortis Bank (Nederland) N.V. Covered Bond Programme 2009-10-30
...Moody's has assigned a provisional long-term rating of (P)Aaa to the Series ####-# structured covered bonds (the "Covered Bonds") issued by Fortis Bank (Nederland) N.V. ("Fortis NL" or "the Issuer") under a EUR ### billion Covered Bond Programme ("the Programme"). As with all covered bonds, the Covered Bonds benefit from two layers of protection by having recourse to both the Issuer and a collateral pool. The rating therefore takes into account the following factors: #) The credit strength of the Issuer (A#/Prime-#/C-) #) The credit quality of the pool of assets (the "Cover Pool") securing the payment obligations under the Covered Bonds. The Cover Pool comprises Aaa-rated residential mortgage backed securities (the "RMBS Notes") backed by Dutch mortgage collateral originated by members of the Fortis Group. For this transaction the Collateral Score is #%, based on the rating of the underlying RMBS. #) The [##.#]% level of "committed" over-collateralisation; and #) The use of structuring...
Rating Changes in the U.S. Residential Mortgage-Backed Securities Market: 2009 Third Quarter Update Rating Changes in the U.S. Residential Mortgage-Backed Securities Market: 2009 Third Quarter Update 2009-10-30
...This report summarizes Moody's rating changes in the U.S. residential mortgage-backed securities (RMBS)...
GE Equipment Small Ticket, L.L.C., Series 2009-1 GE Equipment Small Ticket, L.L.C., Series 2009-1 2009-10-30
...The credit quality of the collateral, which consists mostly of true leases extended to small business obligors and secured by various equipment including office equipment such as copiers, industrial equipment such as machine tools and technology and telecommunications equipment such as hardware;...
Private Bricks 2005-I Private Bricks 2005-I 2009-10-30
...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 # CPR (Constant Prepayment Rate) Moody's CPR calculation = #-(#-(Current Period Unscheduled Principal Payments divided by Current Period Outstanding Pool Balance plus Unscheduled Principal Payments))^[reporting frequency] where reporting frequency equals (monthly reporting=##, quarterly reporting=#, semi-annual=#, annual=#)....
Private Bricks 2007-I Private Bricks 2007-I 2009-10-30
...Footnotes - General Information # Date format throughout report is DD/MM/YYYY. Footnotes - Rating Opinion and General Commentary Footnotes - Capital Structure A CDS, B CDS, C CDS, D CDS, First-Loss Threshold, Sr CDS: EUR - DKK = #.#### Footnotes - Portfolio and Performance Data # CPR (Constant Prepayment Rate) Moody's CPR calculation = #-(#-(Current Period Unscheduled Principal Payments divided by Current Period Outstanding Pool Balance plus Unscheduled Principal Payments))^[reporting frequency] where reporting frequency equals (monthly reporting=##, quarterly reporting=#, semi-annual=#, annual=#). # TRR (Total Redemption Rate) Moody's TRR calculation = #-(#-(Current Period Total Principal Payments divided by Current Period Outstanding Pool Balance plus Total Principal Payments))^[reporting frequency] where reporting frequency equals (monthly reporting=##, quarterly reporting=#, semi-annual=#, annual=#)....
Grifonas Finance No. 1 Plc Grifonas Finance No. 1 Plc 2009-10-30
...Footnotes - General Information # Date format throughout report is DD/MM/YYYY. Footnotes - Rating Opinion and General Commentary Footnotes - Capital Structure...
DECO 14 Pan Europe 5 B.V. DECO 14 Pan Europe 5 B.V. 2009-10-30
...% of Current % of Current Amount at Pool at Loan Current Origination Number of Loan Name Closing Closing Amount Pool Date...
Deco 10 - Pan Europe 4 p.l.c. Deco 10 - Pan Europe 4 p.l.c. 2009-10-30
...Office The Netherlands Jun-## Trend Germany All Amounts in EUR NR Retail Switzerland Sep-## Property Location of Last...
Carlson Wagonlit B.V. Carlson Wagonlit B.V. 2009-10-30
...Formed in ####, Carlson Wagonlit BV ("CWT") is the largest travel management company in terms of traffic in Europe, the Middle East and Africa (EMEA), Latin America and Asia Pacific, and the second-largest operator in the US. The company provides services in ## countries through whole-owned operations or joint ventures, and in another ### countries through a network of contracted partners. In ####, it generated revenues and EBITDA of US$#.### billion and US$### million (as per CWT's adjustments), respectively. The company provides the following services: Traveller and transaction services, assisting corporate and government clients in both online and full-service travel bookings (i.e. through on-site offices and call centres). Programme optimisation services, providing services to enable clients to optimise their travel budget and related processes (travel management consulting services). Safety and security services, informing clients of potential travel risks and providing round-the-clock...
Uherske Hradiste, City of (Czech translation) Uherske Hradiste, City of (Czech translation) 2009-10-30
...Národní rating msta Uherské Hradist na úrovni Aa#.cz odrází adu faktor, zejména pomrn konzervativní ízení rozpoctu, coz je patrné ze stabilních provozních výsledk a dobré úrovn financních rezerv. Prudký nárst zadluzenosti ocekávaný v letech #### a #### povede ke zdvojnásobení dluhové sluzby a významn tak zatízí rozpocet msta, navíc v situaci, kdy je pravdpodobný pokles píjm. Tato rizika jsou zohlednna v negativním výhledu stávajícího ratingu a jejich závaznost bude záviset na rychlosti ozivení ekonomiky, ale také na schopnosti msta pijmout dostatecná a udrzitelná úsporná opatení k udrzení dobrých provozních výsledk a zamezení dalsího rstu dluhu. Ratingové hodnocení zohleduje také systém financování samospráv, který dává mstm v Ceské republice omezený prostor pruzn ovlivovat a ídit své bzné píjmy a výdaje....
Italian Leasing Q3 2009 Indices Italian Leasing Q3 2009 Indices 2009-10-30
...The performance of the Italian leasing asset-backed securities (ABS) sector continued to deteriorate in Q# #### due to rising delinquencies and defaults among small and medium enterprises (SMEs) ­ which account for the majority of lessees in Italy. Monitoring...
Italease Finance S.p.A. Series 2004-1 (ITA 6) Italease Finance S.p.A. Series 2004-1 (ITA 6) 2009-10-30
...Footnotes - General Information # Date format throughout report is DD/MM/YYYY. Footnotes - Rating Opinion and General Commentary # On August ##, #### Moody's announced the downgrade of Banca Italease's senior unsecured rating from Baa# to Ba# with stable outlook on all ratings. It should be noted that as of ## October ####, Selmabipiemme has been appointed as back-up servicer for Italease Finance SpA Series ####-# (ITA #). The servicing activity will continue to be performed by Banca Italease as long as a the servicing agreement is not terminated. # Early amortisation triggers that are not relevant anymore due to the end of the revolving period are not displayed on this performance overview. # Cumulative defaults do not reflect recoveries while net cumulative defaults take consideration of recoveries. # In the reporting period ending March ####, the reserve fund was accidentally considered as part of the collateral which caused less notes to be refunded. Following, the balance between the...
Italfinance Securitisation Vehicle 2 S.R.L ( ITA 10) Italfinance Securitisation Vehicle 2 S.R.L ( ITA 10) 2009-10-30
...Footnotes - General Information # Date format throughout report is DD/MM/YYYY. Footnotes - Rating Opinion and General Commentary # The difference between the notes outstanding and the portfolio is hold in a cash account. # The negative recoveries in October #### refer to a contract that was in status delinquent at issuance and that became defaulted when the instalments remained unpaid. Footnotes - Capital Structure Footnotes - Portfolio and Performance Data # CPR (Constant Prepayment Rate) # TRR (Total Redemption Rate) Footnotes - Trigger Description Defaults - Net Cumulative - Cash Trap: Occurs when defaults exceed the required level. Defaults - Net Cumulative - Accelerated Amortisation: Occurs when defaults exceed the required level. PDL - Accelerated Amortisation: Occurs when the PDL remains outstanding and is not paid....
German Ground Lease Finance S.A. German Ground Lease Finance S.A. 2009-10-30
...Type of transaction: CMBS ­ Single Borrower Issuer: German Ground Lease Finance S.A. Cash Manager Deutsche Bank AG London (Aa#, P-#) NoteTrustee: Beiten Burkhardt Rechtsanwaltsgesellschaft mbH Swap Provider: Bayerische Hypo- und Vereinsbank (A#, P-#) Liquidity Facility Provider: Barclays Bank PLC (Aa#, P-#) All Amounts in EUR Million Information as of October ####...
Promise-I-Mobility 2005-1 plc Promise-I-Mobility 2005-1 plc 2009-10-30
...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...
PREPS 2005-1 Limited Partnership PREPS 2005-1 Limited Partnership 2009-10-30
...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...
Allianz SE Allianz SE 2009-10-30
...Moody's rates Allianz SE Aa# for insurance financial strength and senior debt with a stable outlook. The rating reflects Allianz's strong European franchise including a dominant position in life and non-life in Germany, as well as leading positions in France, Italy, Switzerland and the United Kingdom. Allianz is the No.# non-life insurer globally, No.# life insurer and holds top # market shares in ## countries. Further credit strengths include Allianz's highly diversified product portfolio, its wide range of distribution channels and its asset and liability management capabilities. The disposal of the majority of its banking operations through the sale of Dresdner in January #### is also viewed as a credit positive. Less positively, we note Allianz's relatively high financial leverage and significant gross equity exposure. The deterioration in non-life operating performance seen in the first half of #### could also be a significant negative factor if it proves a longer term phenomena. Allianz...
Moody's Downgrades CTL University Finance Trust 2006 Moody 2009-10-30
Global Credit Research Rating Action ## OCT #### Rating Action: University Finance Trust #### Moody's Downgrades CTL University Finance Trust #### Approximately C$###.# Million of Structured Securities Affected New York, October ##,...
Moody's Adjusts Ratings on Two CRE CDO Deals: CRESI Finance Limited Partnership 2006-A and CRESIX Finance Limited Credit Linked Notes, Series 2006-A Moody 2009-10-30
Global Credit Research Rating Action ## OCT #### Rating Action: CRESIX Finance Limited Credit Linked Notes, Series ####-A Moody's Adjusts Ratings on Two CRE CDO Deals: CRESI Finance Limited Partnership ####-A and CRESIX Finance Limited...
Moody's downgrades CLO notes of Egret Funding CLO I PLC Moody 2009-10-30
Global Credit Research Rating Action ## OCT #### Rating Action: Egret Funding CLO I Plc Moody's downgrades CLO notes of Egret Funding CLO I PLC EUR ###.# million of debt securities affected London, ## October #### -- Moody's Investors...
Moody's Continues Review for Possible Downgrade of 12 CRE CDO Classes of CapitalSource Real Estate Loan Trust 2006-A Moody 2009-10-30
Global Credit Research Rating Action ## OCT #### Rating Action: CapitalSource Real Estate Loan Trust ####-A Moody's Continues Review for Possible Downgrade of ## CRE CDO Classes of CapitalSource Real Estate Loan Trust ####-A Approximately...
Moody's Places 18 CMBS Classes of CD 2007-CD4 on Review for Possible Downgrade Moody 2009-10-30
Global Credit Research Rating Action ## OCT #### Rating Action: CD ####-CD# Commercial Mortgage Trust Moody's Places ## CMBS Classes of CD ####-CD# on Review for Possible Downgrade Approximately $#.# Billion of Structured Securities...
Moody's downgrades the ratings of twelve classes of Notes issued by Tower Hill CDO II, Ltd., an ABS CDO Moody 2009-10-30
Global Credit Research Rating Action ## OCT #### Rating Action: Tower Hill CDO II, Ltd. Moody's downgrades the ratings of twelve classes of Notes issued by Tower Hill CDO II, Ltd., an ABS CDO Approximately $### million original issuance...
Moody's Places Three Additional CMBS Classes of CSFB 2007-TFL2 on Review for Possible Downgrade Moody 2009-10-30
Global Credit Research Rating Action ## OCT #### Rating Action: Credit Suisse First Boston Mortgage Securities Corp. Series ####-TFL# Moody's Places Three Additional CMBS Classes of CSFB ####-TFL# on Review for Possible Downgrade Approximately...
Moody's assigns (P)Aaa to BTMU Mortgage Trust 5 (JHF guarantee) Moody 2009-10-30
Global Credit Research Rating Action ## OCT #### Rating Action: BTMU Residential Mortgage Loan Trust Beneficial Interests Series # (JHF guarantee) Moody's assigns (P)Aaa to BTMU Mortgage Trust # (JHF guarantee) JPY ##.# billion of...
Moody's assigns provisional ratings to first dealer floorplan-backed notes issued since 2005 by Navistar Financial Dealer Note Master Owner Trust Moody 2009-10-30
Global Credit Research Rating Action ## OCT #### Rating Action: Navistar Financial Dealer Note Master Owner Trust, Series ####-# Moody's assigns provisional ratings to first dealer floorplan-backed notes issued since #### by Navistar...
Moody's downgrades Prime 2006-1 SME CDO notes Moody 2009-10-30
Global Credit Research Rating Action ## OCT #### Rating Action: #,###,### PRIME ####-# Funding Linked Notes due ####/## Moody's downgrades Prime ####-# SME CDO notes EUR ###.# million of debt securities affected Frankfurt, October...
Moody's says Asia Pacific corporate credit conditions stabilizing Moody 2009-10-30
Global Credit Research Announcement ## OCT #### Announcement: Moody's says Asia Pacific corporate credit conditions stabilizing Hong Kong, October ##, #### -- Moody's Investors Service says that credit conditions for non-financial...
Moody's to revise assumptions underlying U.S. RMBS loss projections Moody 2009-10-30
Global Credit Research Announcement ## OCT #### Announcement: Moody's to revise assumptions underlying U.S. RMBS loss projections New York, October ##, #### -- Moody's Investors Service announced today that it will update certain assumptions...
Moody's: E&P Liquidity Much Stronger but Conflicting Forces Expected in 2010 Moody 2009-10-30
Global Credit Research Announcement ## OCT #### Announcement: Moody's: E&P Liquidity Much Stronger but Conflicting Forces Expected in #### New York, October ##, #### -- Although independent exploration and production companies (E&P)...
Moody's: U.S. Coal Steady as Contracts Offset Current Weak Prices Moody 2009-10-30
Global Credit Research Announcement ## OCT #### Announcement: Moody's: U.S. Coal Steady as Contracts Offset Current Weak Prices New York, October ##, #### -- The stable outlook for the US coal industry is based on producers' strong...
Moody's comments on United States Steel Corporation's (US Steel) 3rd quarter loss: no rating impact Moody 2009-10-30
Global Credit Research Announcement ## OCT #### Announcement: Moody's comments on United States Steel Corporation's (US Steel) #rd quarter loss: no rating impact New York, October ##, #### -- Moody's commented that US Steel's continued...
Moody's worldwide rating actions for October 29, 2009 Moody 2009-10-30
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 UPGRADES THE LONG TERM RATING TO Aaa FROM Aa2 AND AFFIRMS THE SHORT TERM RATING AT VMIG 1 ON WASHINGTON STATE HOUSING FINANCE COMMISSION VARIABLE RATE DEMAND MULTIFAMILY REVENUE BONDS (SILVER CREEK RETIREMENT PROJECT), SERIES 2004A AND 2004B MOODY 2009-10-30
Global Credit Research Rating Update ## OCT #### Rating Update: Washington State Housing Finance Commission MOODY'S UPGRADES THE LONG TERM RATING TO Aaa FROM Aa# AND AFFIRMS THE SHORT TERM RATING AT VMIG # ON WASHINGTON STATE HOUSING...
MOODY'S AFFIRMS Aa3 UNDERLYING RATING ON CITY OF TEMPLE [TX] GENERAL OBLIGATION DEBT MOODY 2009-10-30
Global Credit Research Rating Update ## OCT #### Rating Update: Temple (City of) TX MOODY'S AFFIRMS Aa# UNDERLYING RATING ON CITY OF TEMPLE [TX] GENERAL OBLIGATION DEBT AFFECTS $## MILLION IN OUTSTANDING PARITY DEBT Municipality TX...
MOODY'S AFFIRMS Aa3 AND Aa3/VMIG 1 RATINGS ASSIGNED TO NORTHWEST COMMUNITY HOSPITAL'S (IL) BONDS IN CONJUNCTION WITH SUBSTITUTION OF SBPA ON SERIES 2002B BONDS; OUTLOOK REMAINS STABLE MOODY 2009-10-30
Global Credit Research Rating Update ## OCT #### Rating Update: Northwest Community Hospital, IL MOODY'S AFFIRMS Aa# AND Aa#/VMIG # RATINGS ASSIGNED TO NORTHWEST COMMUNITY HOSPITAL'S (IL) BONDS IN CONJUNCTION WITH SUBSTITUTION OF SBPA...
MOODY'S UPGRADES TO Aaa/VMIG 1 FROM Baa1/VMIG 2 THE RATING OF CITY OF TROY HEALTH CARE AUTHORITY \'97SARHA, LEASE REVENUE BONDS (SOUTHEAST ALABAMA RURAL HEALTH ASSOCIATES PROJECT), SERIES 2003 MOODY 2009-10-30
Global Credit Research Rating Update ## OCT #### Rating Update: Southeast Alabama Rural Health Associates MOODY'S UPGRADES TO Aaa/VMIG # FROM Baa#/VMIG # THE RATING OF CITY OF TROY HEALTH CARE AUTHORITY \'##SARHA, LEASE REVENUE BONDS...
MOODY'S DOWNGRADES TO Ba1 FROM Baa2 THE RATING ASSIGNED TO SAINT BARNABAS HEALTH CARE SYSTEM'S (NJ) $881.9 MILLION OF OUTSTANDING BONDS; RATING PLACED ON WATCHLIST FOR POSSIBLE DOWNGRADE MOODY 2009-10-30
Global Credit Research Rating Update ## OCT #### Rating Update: Saint Barnabas Health Care System, NJ MOODY'S DOWNGRADES TO Ba# FROM Baa# THE RATING ASSIGNED TO SAINT BARNABAS HEALTH CARE SYSTEM'S (NJ) $###.# MILLION OF OUTSTANDING...
MOODY'S DOWNGRADES KENT COUNTY (MI) AIRPORT'S SERIES 1998 BONDS TO A3 FROM A2; OUTLOOK REVISED TO STABLE MOODY 2009-10-30
Global Credit Research Rating Update ## OCT #### Rating Update: Kent (County of) MI Airport Enterprise MOODY'S DOWNGRADES KENT COUNTY (MI) AIRPORT'S SERIES #### BONDS TO A# FROM A#; OUTLOOK REVISED TO STABLE $##.# MILLION OF DEBT IS...
MOODY'S AFFIRMS THE A3 LONG-TERM RATING ON WORCESTER STATE COLLEGE'S SERIES 2002 BONDS; OUTLOOK REMAINS STABLE MOODY 2009-10-30
Global Credit Research Rating Update ## OCT #### Rating Update: Worcester State College, MA MOODY'S AFFIRMS THE A# LONG-TERM RATING ON WORCESTER STATE COLLEGE'S SERIES #### BONDS; OUTLOOK REMAINS STABLE COLLEGE HAS $##.# MILLION OF...
MOODY'S DOWNGRADES RATING TO Ba3 ON JEFFERSON COUNTY ASSISTED HOUSING CORPORATION, FIRST MORTGAGE REFUNDING HOUSING REVENUE BONDS (SPRING GARDENS PROJECT) SERIES 1999; OUTLOOK REMAINS NEGATIVE MOODY 2009-10-30
Global Credit Research Rating Update ## OCT #### Rating Update: Spring Gardens #, AL MOODY'S DOWNGRADES RATING TO Ba# ON JEFFERSON COUNTY ASSISTED HOUSING CORPORATION, FIRST MORTGAGE REFUNDING HOUSING REVENUE BONDS (SPRING GARDENS...
Moody's assigns (P)B1 rating to NKNK's US$ 101 million Loan Participation Notes Moody 2009-10-30
Global Credit Research Rating Action ## OCT #### Rating Action: NKNK Finance plc Moody's assigns (P)B# rating to NKNK's US$ ### million Loan Participation Notes London, ## October #### -- Moody's has today assigned a (P)B# rating to...
Moody's revises rating to B1 on Terra-Gen Finance Company's debt Moody 2009-10-30
Global Credit Research Rating Action ## OCT #### Rating Action: Terra-Gen Finance Company, LLC. Moody's revises rating to B# on Terra-Gen Finance Company's debt $### Million of Debt Affected New York, October ##, #### -- Moody's Investors...
Moody's says Hubbell's equity issuance supportive of A3 rating Moody 2009-10-30
Global Credit Research Announcement ## OCT #### Announcement: Hubbell Incorporated Moody's says Hubbell's equity issuance supportive of A# rating Outlook remains negative New York, October ##, #### -- Moody's Investors Service stated...
Moody's changes to negative the outlook of 4 Portuguese banks' backed-Aa2 ratings Moody 2009-10-30
Global Credit Research Rating Action ## OCT #### Rating Action: BANIF-Banco Internacional do Funchal, S.A. Moody's changes to negative the outlook of # Portuguese banks' backed-Aa# ratings Action follows the recent change in outlook...
Correction to Text, October 28, 2009, Release: Moody's Assigns Ba2 CFR to Netflix and Ba2 to New Notes Correction to Text, October 28, 2009, Release: Moody 2009-10-30
Global Credit Research Rating Action ## OCT #### Rating Action: Netflix, Inc. Correction to Text, October ##, ####, Release: Moody's Assigns Ba# CFR to Netflix and Ba# to New Notes Approximately $### million of debt rated New York,...
Moody's revises Scientific Games outlook to negative from stable. Moody 2009-10-30
Global Credit Research Rating Action ## OCT #### Rating Action: Scientific Games International, Inc. Moody's revises Scientific Games outlook to negative from stable. Approximately #.# billion of debt affected. New York, October ##,...
Moody's changes ratings outlooks for KCS to stable Moody 2009-10-30
Global Credit Research Rating Action ## OCT #### Rating Action: Southern Capital Corporation Moody's changes ratings outlooks for KCS to stable Approximately $#.# billion in debt securities affected New York, October ##, #### -- Moody's...
Moody's downgrades the ratings of $1MM of notes issued by Pinnacle CBO, Limited Moody 2009-10-30
Global Credit Research Rating Action ## OCT #### Rating Action: Pinnacle CBO, Limited Moody's downgrades the ratings of $#MM of notes issued by Pinnacle CBO, Limited New York, October ##, #### -- Moody's Investors Service announced...
Moody's downgrades the rating of $14MM of notes issued by Zermatt CBO LImited Moody 2009-10-30
Global Credit Research Rating Action ## OCT #### Rating Action: Zermatt CBO LImited Moody's downgrades the rating of $##MM of notes issued by Zermatt CBO LImited New York, October ##, #### -- Moody's Investors Service announced today...
Moody's downgrades the ratings of $2MM of CBO notes issued by Porticoes Funding, Ltd. Moody 2009-10-30
Global Credit Research Rating Action ## OCT #### Rating Action: Porticoes Funding, Ltd. Moody's downgrades the ratings of $#MM of CBO notes issued by Porticoes Funding, Ltd. New York, October ##, #### -- Moody's Investors Service announced...
Moody's downgrades the ratings of $37MM of CBO notes issued by Triton CDO IV, Limited Moody 2009-10-30
Global Credit Research Rating Action ## OCT #### Rating Action: Triton CDO IV, Limited Moody's downgrades the ratings of $##MM of CBO notes issued by Triton CDO IV, Limited New York, October ##, #### -- Moody's Investors Service announced...
Moody's assigns provisional ratings to French RMBS Bonds to be issued by CIF ASSETS 2001-1, a compartment of the Fonds Commun de Titrisation CIF ASSETS. Moody 2009-10-30
Global Credit Research Rating Action ## OCT #### Rating Action: CIF ASSETS ####-# Moody's assigns provisional ratings to French RMBS Bonds to be issued by CIF ASSETS ####-#, a compartment of the Fonds Commun de Titrisation CIF ASSETS....
Moody's downgrades CLO notes of Harvest CLO I S.A. Moody 2009-10-30
Global Credit Research Rating Action ## OCT #### Rating Action: Harvest CLO I S.A. Moody's downgrades CLO notes of Harvest CLO I S.A. Approximately EUR ### million of debt securities affected Paris, October ##, #### -- Moody's Investors...
Moody's Determines No Ratings Impact for Petrusse CLO Amendment Moody 2009-10-30
Global Credit Research Announcement ## OCT #### Announcement: Petrusse European CLO S.A. Moody's Determines No Ratings Impact for Petrusse CLO Amendment Approximately Euro ###,###,### affected London, ## October #### -- Moody's Investors...
Moody's downgrades Notes issued by Palisades CDO Ltd., an ABS CDO Moody 2009-10-30
Global Credit Research Rating Action ## OCT #### Rating Action: Palisades CDO Ltd. Moody's downgrades Notes issued by Palisades CDO Ltd., an ABS CDO The total original par affected by today's rating action is $###,###,### New York,...
Moody's Investors Service has withdrawn the Aaa/VMIG 1 rating assigned to the Montgomery County Industrial Development Authority, PA, Pollution Control Revenue Refunding Bonds, Series 1999-A (PECO Energy Company Project) Moody 2009-10-30
Global Credit Research Rating Action ## OCT #### Rating Action: Montgomery County Industrial Development Authority, PA, Pollution Control Revenue Refunding Bonds (PECO Energy Company Project), Series ####-A & ####-B, $###.###MM Moody's...
Moody's Investors Service has withdrawn the Aaa/VMIG 1 rating assigned to the Montgomery County Industrial Development Authority, PA, Pollution Control Revenue Refunding Bonds, Series 1999-B (PECO Energy Company Project) Moody 2009-10-30
Global Credit Research Rating Action ## OCT #### Rating Action: Montgomery County Industrial Development Authority, PA, Pollution Control Revenue Refunding Bonds (PECO Energy Company Project), Series ####-A & ####-B, $###.###MM Moody's...
Moody's Investors Service has withdrawn the Aaa/VMIG 1 rating assigned to the Delaware County Industrial Development Authority, PA, Pollution Control Revenue Refunding Bonds, Series 1999-A (PECO Energy Company Project) Moody 2009-10-30
Global Credit Research Rating Action ## OCT #### Rating Action: Delaware County Industrial Development Authority, PA, Pollution Control Revenue Refunding Bonds (PECO Energy Company Project), Series ####-A, $##.###MM Moody's Investors...
Moody's downgrades AyT Fondo E=lico's Spanish ABS notes Moody 2009-10-30
Global Credit Research Rating Action ## OCT #### Rating Action: AyT FONDO EOLICO, FTA Moody's downgrades AyT Fondo Elico's Spanish ABS notes EUR ##.# million of debt securities affected London, ## October #### -- Moody's Investors...
Moody's Places 14 CMBS Classes of JPMCC 2004-CIBC10 on Review for Possible Downgrade Moody 2009-10-30
Global Credit Research Rating Action ## OCT #### Rating Action: J.P. Morgan Chase Commercial Mortgage Securities Corp. Series ####-CIBC## Moody's Places ## CMBS Classes of JPMCC ####-CIBC## on Review for Possible Downgrade Approximately...
Moody's: Theta's ratings unaffected by amendment. Moody 2009-10-30
Global Credit Research Announcement ## OCT #### Announcement: Theta Corporation Moody's: Theta's ratings unaffected by amendment. London, ## October #### -- Moody's Investors Service announced today that an amendment to the Eligible...
Moody's Determines No Ratings Impact for Alzette CLO Amendment Moody 2009-10-30
Global Credit Research Announcement ## OCT #### Announcement: Alzette European CLO S.A. Moody's Determines No Ratings Impact for Alzette CLO Amendment Approximately Euro ###,###,### affected London, ## October #### -- Moody's Investors...
Moody's downgrades the ratings of five classes of Notes issued by Trainer Wortham First Republic CBO V Ltd., an ABS CDO Moody 2009-10-30
Global Credit Research Rating Action ## OCT #### Rating Action: TRAINER WORTHAM FIRST REPUBLIC CBO V LTD. Moody's downgrades the ratings of five classes of Notes issued by Trainer Wortham First Republic CBO V Ltd., an ABS CDO Approximately...
Moody's Affirms Two CMBS Classes of N-46 A-B Notes Issuer Inc., Series 2005-1 Moody 2009-10-30
Global Credit Research Announcement ## OCT #### Announcement: N-## A-B Notes Issuer Moody's Affirms Two CMBS Classes of N-## A-B Notes Issuer Inc., Series ####-# Approximately CDN $### million of Structured Securities Affected New...
Moody's downgrades $100 million of bonds issued by SASCO FHA-VA deals issued in 1998 and 1999 Moody 2009-10-30
Global Credit Research Rating Action ## OCT #### Rating Action: SASCO FHA/VA, Series ####-RF# Moody's downgrades $### million of bonds issued by SASCO FHA-VA deals issued in #### and #### New York, October ##, #### -- Moody's Investors...
Moody's downgrades the rating of $59MM of CLO notes issued by MCG Commercial Loan Trust 2006-1 Moody 2009-10-30
Global Credit Research Rating Action ## OCT #### Rating Action: MCG Commercial Loan Trust ####-# Moody's downgrades the rating of $##MM of CLO notes issued by MCG Commercial Loan Trust ####-# Moody's also places under review for possible...
Moody's Affirms Five and Downgrades 15 CMBS Classes of CSFB 2006-C2 Moody 2009-10-30
Global Credit Research Rating Action ## OCT #### Rating Action: CSFB Commercial Mortgage Trust ####-C# Moody's Affirms Five and Downgrades ## CMBS Classes of CSFB ####-C# Approximately $#.# Billion of Structured Securities Affected...
Moody's changes outlook on TNK-BP Baa2 ratings to Stable Moody 2009-10-30
Global Credit Research Rating Action ## OCT #### Rating Action: TNK-BP Finance S.A. Moody's changes outlook on TNK-BP Baa# ratings to Stable Moscow, October ##, #### -- Moody's Investors Service has today changed the outlook to stable...
Moody's Affirms CONMED's Ratings; Outlook Stable Moody 2009-10-30
Global Credit Research Rating Action ## OCT #### Rating Action: ConMed Corporation Moody's Affirms CONMED's Ratings; Outlook Stable Approximately $### million (face value) rate debt affected New York, October ##, #### -- Moody's Investors...
Moody's lowers Revere's PDR to D; Ratings to be withdrawn Moody 2009-10-30
Global Credit Research Rating Action ## OCT #### Rating Action: Revere Industries, LLC Moody's lowers Revere's PDR to D; Ratings to be withdrawn Approximately $### million of rated debt affected New York, October ##, #### -- Moody's...
Moody's changes SCA's outlook to stable; affirms Baa1 rating Moody 2009-10-30
Global Credit Research Rating Action ## OCT #### Rating Action: Svenska Cellulosa Aktiebolaget SCA Moody's changes SCA's outlook to stable; affirms Baa# rating Frankfurt, October ##, #### -- Moody's Investors Service has today changed...
Moody's changes the outlook on Portugal's Aa2 rating to negative Moody 2009-10-30
Global Credit Research Rating Action ## OCT #### Rating Action: Portugal, Government of Moody's changes the outlook on Portugal's Aa# rating to negative London, ## October #### -- Moody's Investors Service has today changed the outlook...
Moody's places Greece's ratings on review for possible downgrade Moody 2009-10-30
Global Credit Research Rating Action ## OCT #### Rating Action: Greece Moody's places Greece's ratings on review for possible downgrade London, ## October #### -- Moody's Investors Service has today placed the A# foreign and local...
Moody's reestablishes A1.uy of Banco Hipotecario del Uruguay's foreign currency debt Moody 2009-10-30
Global Credit Research Rating Action ## OCT #### Rating Action: Banco Hipotecario del Uruguay Moody's reestablishes A#.uy of Banco Hipotecario del Uruguay's foreign currency debt Buenos Aires, October ##, #### -- Moody's Latin America...
Moody's downgrades Source Media and Accuity to B2; outlook negative Moody 2009-10-30
Global Credit Research Rating Action ## OCT #### Rating Action: Accuity Inc. Moody's downgrades Source Media and Accuity to B#; outlook negative Approximately $### million in rated debt New York, October ##, #### -- Moody's Investors...
Moody's changes AMERIGROUP's (IFSR at Baa3) outlook to stable Moody 2009-10-30
Global Credit Research Rating Action ## OCT #### Rating Action: AMERIGROUP New Jersey, Inc. Moody's changes AMERIGROUP's (IFSR at Baa#) outlook to stable New York, October ##, #### -- Moody's Investors Service has affirmed the Baa#...
Moody's moves Dole's outlook to positive; upgrades PDR to B2; affirms B2 CFR and other ratings. Moody 2009-10-30
Global Credit Research Rating Action ## OCT #### Rating Action: Solvest Ltd. Moody's moves Dole's outlook to positive; upgrades PDR to B#; affirms B# CFR and other ratings. New York, October ##, #### -- Moody's today changed the rating...
Moody's assigns Caa1 to Cott's proposed $200 million unsecured notes Moody 2009-10-30
Global Credit Research Rating Action ## OCT #### Rating Action: Cott Beverages, Inc. Moody's assigns Caa# to Cott's proposed $### million unsecured notes Approximately $### million of rated debt affected New York, October ##, ####...
Moody's rates Amphenol's senior unsecured notes Baa3 Moody 2009-10-30
Global Credit Research Rating Action ## OCT #### Rating Action: Amphenol Corporation Moody's rates Amphenol's senior unsecured notes Baa# New York, October ##, #### -- Moody's Investors Service rated Amphenol Corporation's proposed...
Moody's assigns first-time issuer rating of Baa1 to Mead Johnson Moody 2009-10-30
Global Credit Research Rating Action ## OCT #### Rating Action: Mead Johnson Nutrition Co. Moody's assigns first-time issuer rating of Baa# to Mead Johnson Up to $#.# billion in new senior unsecured notes being offered New York, October...
Moody's reviews Nippon Yusen's A3 for possible downgrade Moody 2009-10-30
Global Credit Research Rating Action ## OCT #### Rating Action: Nippon Yusen Kabushiki Kaisha Moody's reviews Nippon Yusen's A# for possible downgrade Tokyo, October ##, #### -- Moody's Investors Service has placed the A# issuer rating...
Moody's changes Mitsui O.S.K.'s A3 rating outlook to negative Moody 2009-10-30
Global Credit Research Rating Action ## OCT #### Rating Action: Mitsui O.S.K. Lines, Ltd. Moody's changes Mitsui O.S.K.'s A# rating outlook to negative Tokyo, October ##, #### -- Moody's Investors Service has changed to negative from...
Moody's assigns A2 to Kirin Holdings bonds; outlook stable Moody 2009-10-30
Global Credit Research Rating Action ## OCT #### Rating Action: Kirin Holdings Co., Ltd. Moody's assigns A# to Kirin Holdings bonds; outlook stable Total amount of debt rated is JPY ### billion Tokyo, October ##, #### -- Moody's Investors...
Moody's upgrades NRI to Ba2; stays on review for possible upgrade Moody 2009-10-30
Global Credit Research Rating Action ## OCT #### Rating Action: Nippon Residential Investment Corporation Moody's upgrades NRI to Ba#; stays on review for possible upgrade Tokyo, October ##, #### -- Moody's Investors Service has upgraded...
Moody's comments on South Africa's Competition Commission's ruling Moody 2009-10-30
Global Credit Research Announcement ## OCT #### Announcement: Telkom SA Limited Moody's comments on South Africa's Competition Commission's ruling Madrid, October ##, #### -- Moody's notes the recent announcement by the Competition...
Moody's changes Radio e Televispo de Portugal's outlook to negative Moody 2009-10-30
Global Credit Research Rating Action ## OCT #### Rating Action: Radio e Televisao de Portugal S.A Moody's changes Radio e Televiso de Portugal's outlook to negative Madrid, October ##, #### -- Moody's Investors Service has today changed...
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