Fitch Lwrs Four Winds Funding Corporation To `F1' From `F1+'.
NEW YORK--(BUSINESS WIRE)--Aug. 4, 2000
Fitch's rating of Four Winds Funding Corporation, an $7.5 billion asset-backed commercial paper program, sponsored by Commerzbank AG, was lowered to `F1' from `F1+'. The rating action is a result of Fitch's July 26, 2000, downgrade Downgrade
A negative change in the rating of a security.
For example, an analyst may downgrade a stock from strong buy to buy, or a bond rating agency may downgrade a bond from AAA to AA. of Commerzbank, a liquidity and credit support provider to Four Winds, to `F1' from `F1+'. The bank's downgrade follows their announcement that merger negotiations with Dresdner Bank Dresdner Bank AG is one of Germany's largest banking corporations and is based in Frankfurt. History
Dresdner Bank was established on 12 November 1872 through the conversion of financial institution Michael Kaskel. had ended. Commerzbank, in conjunction with several other highly rated investment-grade financial institutions, continues to provide liquidity and credit support to Four Winds Funding Corporation.
Fitch fitch: see polecat. is an international rating agency that provides global capital market investors with the highest quality ratings and research. Dual headquartered in New York New York, state, United States
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of 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 IBCA International Braille Chess Association
IBCA Institute of Burial and Cremation Administration
IBCA Integrated Business Communications Alliance
IBCA International Barbeque Cookers Association
IBCA Department of Interior Board of Contract Appeals and Duff & Phelps Credit Rating Co., provides ratings for Financial Institutions, Insurance, Corporates, Structured Finance, Sovereigns and Public Finance Markets worldwide.