...+ We have revised the equity content we assigned on several hybrid capital instruments issued by corporate issuers to "minimal" from "intermediate." + Our criteria for assessing corporate hybrids have not changed. + We are affirming our corporate credit ratings on the corporate issuers affected. LONDON (Standard & Poor's) Oct. 27, 2015--Standard & Poor's Ratings Services said today that it has revised the equity content it assigned on certain hybrid capital instruments (hybrids) listed at the end of this release to "minimal" from "intermediate." Our criteria for assessing hybrids have not changed, however. We have affirmed our issuer credit ratings on these issuers of hybrids and our issue ratings on their hybrids. As a consequence of revising the equity content to "minimal," we now regard these specific hybrids as 100% debt when calculating credit ratios. For the issuers whose hybrids we have reviewed here, although we have revised their...
