NEW YORK (Standard&Poor's CreditWire) July 9, 1999--Standard&Poor's today affirmed its ratings on nine Wal-Mart Stores Inc.-related credit lease transactions. The ratings were removed from CreditWatch, where they were placed June 16, 1999 (see list below). The CreditWatch removal is in conjunction with the affirmation of Wal-Mart's double-'A' issuer credit rating. In the credit leases deals, the transactions are collateralized by mortgages secured by properties that are leased to Wal-Mart. The rating is based on the lease payments from Wal-Mart, which are used to pay the debt service on the certificates. Even though the credit lease transactions also benefit from first mortgage liens on commercial properties, the value of the liens and properties do not warrant a
