...On Aug. 1, 2006, Standard & Poor's Ratings Services withdrew its '###+' corporate credit rating on Cendant Corp. In addition, ratings on the following senior notes were withdrawn: + $800 million of 6.250% senior notes due 2008; + $350 million of 6.25% senior notes due 2010; + $1.2 billion of 7.375% senior notes due 2013; + $250 million of 7.125% senior notes due 2015; + $862 million 4.89% senior notes due 2006; and + $850 million 6.875% senior notes due 2006. The rating withdrawals follow the company's announcement that the previously announced tender offers for the first four bond issues had been completed in conjunction with funds received from the successful spin-offs of Realogy Corp. and Wyndham Worldwide Corp., which occurred on July 31, 2006. The remaining two bond issues will be paid in full in about two weeks, however, funds have been provided to the trustee, who has acknowledged the full satisfaction and discharge of the company's obligations under the indenture as to each series...
