Summary: Societe Generale Municipal Securities Trust Receipts Series 2003 SGB 45 Rating Lowered To 'AA (sf)/A-1 (sf)'; Tender Option Certificates/Bonds - S&P Global Ratings’ Credit Research

Summary: Societe Generale Municipal Securities Trust Receipts Series 2003 SGB 45 Rating Lowered To 'AA (sf)/A-1 (sf)'; Tender Option Certificates/Bonds

Summary: Societe Generale Municipal Securities Trust Receipts Series 2003 SGB 45 Rating Lowered To 'AA (sf)/A-1 (sf)'; Tender Option Certificates/Bonds - S&P Global Ratings’ Credit Research
Summary: Societe Generale Municipal Securities Trust Receipts Series 2003 SGB 45 Rating Lowered To 'AA (sf)/A-1 (sf)'; Tender Option Certificates/Bonds
Published Sep 13, 2011
958 words — Published Sep 13, 2011
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About This Report

  
Abstract:

Standard&Poor's Ratings Services lowered its rating on Societe Generale Municipal Securities Trust Receipts' series 2003 SGB 45, relating to California Educational Facilities Authority's (University of Southern California) revenue bonds series 2003A, to 'AA (sf)/A-1 (sf)' from 'AA+ (sf)/A-1 (sf)'. This action follows Standard&Poor's Aug. 5, 2011, downgrade of its rating on the underlying bonds to 'AA' from 'AA+'. The long-term component of the rating is based on the rating on the underlying bonds (CUSIP #: 130175YE6). The short-term component of the rating is based on the liquidity provided by Societe Generale. USPF Criteria: Secondary Market Derivative Products, June 27, 2007

  
Brief Excerpt:

RESEARCH Summary: Societe Generale Municipal Securities Trust Receipts Series 2003 SGB 45 Rating Lowered To '## (sf)/A-1 (sf)'; Tender Option Certificates/Bonds Publication date: 13-Sep-2011 Primary Credit Analyst: Santos Souffront,...

  
Report Type:

Summary

Issuer
University of Southern California
Sector
Global Issuers, Public Finance
Country
United States
Region
United States
Format:
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MLA:
S&P Global Ratings’ Credit Research. "Summary: Societe Generale Municipal Securities Trust Receipts Series 2003 SGB 45 Rating Lowered To 'AA (sf)/A-1 (sf)'; Tender Option Certificates/Bonds" Sep 13, 2011. Alacra Store. May 10, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Summary-Societe-Generale-Municipal-Securities-Trust-Receipts-Series-2003-SGB-45-Rating-Lowered-To-AA-sf-A-1-sf-Tender-Option-Certificates-Bonds-890333>
  
APA:
S&P Global Ratings’ Credit Research. (). Summary: Societe Generale Municipal Securities Trust Receipts Series 2003 SGB 45 Rating Lowered To 'AA (sf)/A-1 (sf)'; Tender Option Certificates/Bonds Sep 13, 2011. New York, NY: Alacra Store. Retrieved May 10, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-Societe-Generale-Municipal-Securities-Trust-Receipts-Series-2003-SGB-45-Rating-Lowered-To-AA-sf-A-1-sf-Tender-Option-Certificates-Bonds-890333>
  
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