Ratings On 13 Receipts For Various Issuers Lowered To 'A+/A-1', 'A+', Removed From CreditWatch - S&P Global Ratings’ Credit Research

Ratings On 13 Receipts For Various Issuers Lowered To 'A+/A-1', 'A+', Removed From CreditWatch

Ratings On 13 Receipts For Various Issuers Lowered To 'A+/A-1', 'A+', Removed From CreditWatch - S&P Global Ratings’ Credit Research
Ratings On 13 Receipts For Various Issuers Lowered To 'A+/A-1', 'A+', Removed From CreditWatch
Published Jan 17, 2025
5 pages (1886 words) — Published Jan 17, 2025
Price US$ 150.00  |  Buy this Report Now

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Abstract:

NEW YORK (S&P Global Ratings) Jan. 17, 2025--S&P Global Ratings lowered its long-term rating on 13 tender-option bond trust receipts issued by Loop Capital Markets LLC; Barclays Capital Inc.; FMSbonds Inc.; and Mesirow Financial Inc. tender-option bond trust floater, residual, and custodial receipts, related to various Chicago bonds, to 'A+/A-1', 'A+', and 'A+' from 'AA-/A-1', 'AA-', and 'AA-', respectively and removed the ratings from CreditWatch with negative implications where S&P Global Ratings placed them on Nov. 27, 2024 (see table). This rating action follows S&P Global Ratings' lowering its ratings on the underlying bonds. (For further information, see "Chicago GO Debt Rating Lowered To 'BBB' As The 2025 Budget Fails To Address Persistent Structural Imbalance," published Jan. 14, 2025, on

  
Brief Excerpt:

...January 17, 2025 NEW YORK (S&P Global Ratings) Jan. 17, 2025--S&P Global Ratings lowered its long-term rating on 13 tender-option bond trust receipts issued by Loop Capital Markets LLC; Barclays Capital Inc.; FMSbonds Inc.; and Mesirow Financial Inc. tender-option bond trust floater, residual, and custodial receipts, related to various Chicago bonds, to 'A+/A-1', 'A+', and 'A+' from '##-/A-1', '##-', and '##-', respectively and removed the ratings from CreditWatch with negative implications where S&P Global Ratings placed them on Nov. 27, 2024 (see table)....

  
Report Type:

Ratings Action

Issuer
Chicago
Sector
Global Issuers, Public Finance, Structured Finance
Country
United States
Region
United States
Format:
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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Ratings On 13 Receipts For Various Issuers Lowered To 'A+/A-1', 'A+', Removed From CreditWatch" Jan 17, 2025. Alacra Store. May 16, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Ratings-On-13-Receipts-For-Various-Issuers-Lowered-To-A-A-1-A-Removed-From-CreditWatch-3310678>
  
APA:
S&P Global Ratings’ Credit Research. (). Ratings On 13 Receipts For Various Issuers Lowered To 'A+/A-1', 'A+', Removed From CreditWatch Jan 17, 2025. New York, NY: Alacra Store. Retrieved May 16, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Ratings-On-13-Receipts-For-Various-Issuers-Lowered-To-A-A-1-A-Removed-From-CreditWatch-3310678>
  
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