ENGLEWOOD (S&P Global Ratings) April 17, 2026--S&P Global Ratings today placed its ratings on California Community Choice Financing Authority Series 2025C 's Clean Energy Project revenue bonds series 2025C on CreditWatch with negative implications (see list). The CreditWatch placements follow the placement of our ratings on American General Life Insurance Co. on CreditWatch negative on March 31, 2026 (see " Research Update: Corebridge Financial Inc. And Core Subsidiaries Ratings Placed On CreditWatch Negative On Merger Announcement ?). The ratings on the bonds are linked to the lowest-rated credit within the transaction structure. These linked credits include Natixis S.A. (A+/Stable/A-1), acting as the guarantor of the investment agreement provider for the issuer's debt service account; and American General Life Insurance Co.
