NY -- Standard&Poor's CreditWire 1/21/97 -- Standard&Poor's today has affirmed its ratings on Sun Communities Operating Limited Partnership, the operating partnership of Sun Communities Inc., and has removed these ratings from CreditWatch, where they were placed Aug. 23, 1996 following Sun's announcement of an offer to merge with Chateau Properties Inc. (see list below for ratings). The ratings of Sun Communities Inc. also have been affirmed and removed from CreditWatch (see list). The outlook is now stable. Chateau Properties (rated triple-`B'-minus) was placed on CreditWatch with developing implications July 22, 1996 after it announced an agreement to merge with ROC Communities (unrated). The rating affirmation acknowledges Sun's discontinuance of the merger offer. Since the merger between
