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Sumitomo Mitsui Banking Corp. Credit LOC-Backed Municipal Issues Downgraded; Off Watch

Published Feb 13, 2002

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Abstract:

NEW YORK (Standard&Poor's) Feb. 13, 2002—Standard&Poor's today lowered its ratings on three Sumitomo Mitsui Banking Corp.. LOC-backed municipal issues to triple-'B' from triple-'B'-plus (see list below). The ratings are also removed from CreditWatch Negative. The rating action follows the Feb. 5, 2002, downgrade of Sumitomo Mitsui Banking Corp.'s ratings to triple-'B'/'A-2' from triple-'B'-plus/'A-2' and its subsequent removal from CreditWatch Negative. Sumitomo Mitsui Banking Corp. Credit LOC-Backed Municipal Issues Issuer/Issue Amount($mil) Albuquerque, N.M. Street improvement, water, and sewer bonds subseries A-D 9.335 Broward County School Leasing Corp., Fla. Certificate of participation series 1989 18.425 Maine Health&Higher Educational Facilities Authority Taxable reserve fund resolution revenue bonds series 1993A 51.960

Report Type:

Ratings Action

Issuer

Albuquerque

Sector

Global Issuers, Public Finance, Structured Finance

Country

United States

Region

United States

Format:

HTML

Canadian Imperial Bank of Commerce LOC-Backed Municipal Issues Lowered – 2002/10/17 – US$ 150.00

Bayerische Hypo-und Vereinsbank Primary Market Liquidity Fac-Backed Issues Placed on Watch Neg – 2002/11/06 – US$ 150.00

Bayerische Hypo-und Vereinsbank AG Liquidity Facility-Backed Municipal Issues Lowered – 2002/12/12 – US$ 150.00

Albuquerque, NM's GO Bonds Series 2003A, B, and C Rated 'AA'; Outlook Stable – 2003/05/30 – US$ 150.00

Albuquerque, New Mexico; Tax Secured, General Obligation; Tax Secured, Sales Tax – 2003/05/30 – US$ 500.00

Sumitomo Mitsui Banking Corp LOC Facility-Bckd Muni Iss on CreditWatch Negative – 2002/01/24 – US$ 150.00

Albuquerque, N.M.'s GO Bonds Rated 'AA'; Outstanding Debt Affirmed – 2002/01/04 – US$ 150.00

Albuquerque, New Mexico; Tax Secured, General Obligation – 2002/01/04 – US$ 500.00

Summary: Albuquerque, NM; Tax Secured, General Obligation – 2002/01/04 – US$ 225.00

Albuquerque, New Mexico; Utility, Water/Sewer – 2001/12/04 – US$ 500.00

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MLA:	S&P Global Ratings’ Credit Research. "Sumitomo Mitsui Banking Corp. Credit LOC-Backed Municipal Issues Downgraded; Off Watch" Feb 13, 2002. Alacra Store. May 06, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Sumitomo-Mitsui-Banking-Corp-Credit-LOC-Backed-Municipal-Issues-Downgraded-Off-Watch-230981>

APA:	S&P Global Ratings’ Credit Research. (). Sumitomo Mitsui Banking Corp. Credit LOC-Backed Municipal Issues Downgraded; Off Watch Feb 13, 2002. New York, NY: Alacra Store. Retrieved May 06, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Sumitomo-Mitsui-Banking-Corp-Credit-LOC-Backed-Municipal-Issues-Downgraded-Off-Watch-230981>

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