Fitch Corrects Ratings On 2 Commerzbank Supported Issues.
NEW YORK--(BUSINESS WIRE)--Aug. 2, 2000
CORRECTION: Following its downgrade of Commerzbank's long-term and short-term ratings, Fitch incorrectly reported ratings yesterday on two issues supported by Commerzbank liquidity facilities. The affected issues and correct ratings are:
-- California, State of (CA) commercial paper notes (liquidity
facility: Bayerische Landesbank Girozentrale, Commerzbank
Aktiengesellschaft, Credit Agricole, Dexia Credit Local de
France, Landesbank Hessen-Thuringen Girozentrale, Morgan
Guaranty Trust Co. of New York, State Street Bank & Trust Co.,
TD Securities (USA) Inc., Westdeutsche Landesbank
-- Massachusetts, Commonwealth of (MA) general obligation
refunding variable-rate demand bonds ser 1998A (liquidity
facility: Commerzbank Aktiengesellschaft, NY)'AA-/F1'.
Fitch is an international rating agency that provides global capital market investors with the highest quality ratings and research. Dual headquartered in New York and London with a major office in Chicago, Fitch rates entities in 75 countries and has some 1,100 employees in more than 40 local offices worldwide. The agency, which is a combination of Fitch IBCA and Duff & Phelps Credit Rating Co., provides ratings for Financial Institutions, Insurance, Corporates, Structured Finance, Sovereigns and Public Finance Markets worldwide.