NEW YORK (S&P Global Ratings) May 19, 2025-- S&P Global Ratings today raised its rating on Structured Asset Trust Unit Repackings' (SATURNS) debenture-backed certificates series 2003-9 to 'BBB+' from 'BBB'. Our rating on the certificates is dependent on our rating on the underlying security, Altria Group Inc.'s 7.75% bonds due Jan. 15, 2027 ('BBB+'). Today's rating action reflects the May 14, 2025, raising of our rating on the underlying security to 'BBB+' from 'BBB' (see !QUOT;Altria Group Inc. Upgraded To 'BBB+' From 'BBB' On Solid Credit Metrics; 'A-2' Short-Term Rating Affirmed; Outlook Stable," published May 14, 2025). We may take subsequent rating actions on this transaction if our rating on the underlying security changes. General Criteria: Environmental, Social, And Governance
