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S&P Announces: Global Corporate/Sovereign Daily Rating Actions.


Business Editors

NEW YORK--(BUSINESS WIRE)--June 7, 2004

Credit ratings, shown as long-term Long-term

Three or more years. In the context of accounting, more than 1 year.


long-term

1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term.
 rating/Outlook or CreditWatch/short-term rating, are local and foreign currency unless otherwise noted.

For revised ratings, issue amounts generally represent original issuance amounts. A dash "--" indicates not rated.

 June 07, 2004

                           Global Corporate/Sovereign
                                  New Ratings


 ACE INA Holdings Inc.

    US$500 mil 5.875% sr. nts due
       06/15/2014 (Gtd: ACE Ltd.)           BBB+

 Austria (Republic of)

    US$100 mil 4.54% med-term nts due
       05/10/2013                           AAA

 Caisse Nationale des Caisses d'Epargne
    et de Prevoyance

    EUR150 mil fltg rate med-term nts due
       11/17/2005                           AA
    LBP 100 mil fltg rate med-term nts due
       05/05/2006                           AA

 ERAC USA Finance Co.

    US$500 mil 6.7% nts due 06/01/2034      BBB+

 Edison SpA

    EUR1.5 bil syndicated revolving bank
       facility due 04/07/2009 bank ln      BBB+

 European Investment Bank

    US$250 mil fltg rate callable nts due
       05/24/2011                           AAA

 Federal Grid Co. of the Unified Energy
    System

    credit rating                           B/Positive/--

 Gelsenwasser AG

    credit rating                           BBB+/Stable/--

 HBOS PLC

    EUR500 mil fltg rate callable sub
       med-term nts ser HBOS 0020 due
       09/01/2016                           A+

 HBOS Treasury Services PLC

    CHF80 mil 1.63% med-term nts ser
       0810/04 due 10/29/2007 (Gtd:
       Bank of Scotland, Gtd: HBOS
       PLC)                                 AA

 Helix 04 Limited

    US$100 mil fltg rate nts due
       06/30/2009 (Gtd: Rabobank
       International)                       BB+

 Hospira Inc.

    US$300 mil sr unsecd nts due 2009       BBB
    US$400 mil sr unsecd nts due 2014       BBB

 Inter-American Development Bank

    US$141 mil 3.07% nts due 04/08/2011     AAA

 International Bank for Reconstruction
    and Development

    US$25 mil step up callable nts due
       04/29/2009                           AAA

 KfW

    EUR3 bil 4.25% med-term nts due
       07/04/2014 (Gtd: Germany
       (Federal Republic of))               AAA
    US$100 mil 3.77% nts due 04/13/2012
       (Gtd: Germany (Federal Republic
       of))                                 AAA
    US$100 mil 4.04% nts due 04/16/2012
       (Gtd: Germany (Federal Republic
       of))                                 AAA
    US$100 mil 4.425% med-term nts due
       05/07/2012 (Gtd: Germany
       (Federal Republic of))               AAA

 Shinsei Bank Ltd.

    US$3 mil fixed rate/libor linked
       callable nts ser 11 due
       06/08/2009                           BBB

 Tokyu Corp.

    YEN 10 bil 2.7% bnds ser 60 due
       06/18/2019                           BB+
    YEN 15 bil 1.01% bnds ser 58 due
       06/18/2009                           BB+
    YEN 15 bil 2.06% bnds ser 59 due
       06/18/2014                           BB+

 Wasser und Gas Westfalen GmbH

    credit rating                           BBB+/Stable/--

 June 07, 2004

                           Global Corporate/Sovereign
                                Revised Ratings

                                         To                From

Calyon North America Inc.

    credit rating                        --/--/--          --/--/A-1+

 Edison SpA

    credit rating                     BBB+/Stable/A-2   BBB/Stable/A-2
    EUR1.5 bil Sr Unsecd/S-T Debt
       med-term note prog :
       sr unsecd                            BBB+              BBB
    EUR2 bil Sr Unsecd med-term
       note prog
       11/14/2003: (Gtd: Edison SpA)
       sr unsecd                            BBB+              BBB
    EUR1.25 bil sydicated revolving
       facility bank ln due 12/12/2005      NR                BBB
    EUR600 mil 6.375% nts due 07/20/2007    BBB+              BBB
    EUR700 mil 5.125% nts due 12/10/2010    BBB+              BBB
    EUR830 mil var rate nts nts due
       08/26/2007                           BBB+              BBB

 Hospira Inc.

    US$700 mil 364-day cred fac bank ln
       due 03/2005                          NR                BBB

 Indosuez N.A. Inc.

    3(A)3 CP program auth amt US$2 bil.
       (Gtd: Calyon)                        NR                A-1+

 Public Bank Berhad

    credit rating
       Local Currency                A-/Stable/A-2     BBBpi/Stable/--

 Selm Holding International S.A.

    EUR2 bil Sr Unsecd med-term note prog
       11/14/2003: (Gtd: Edison SpA)
       sr unsecd                            BBB+              BBB

 United Microelectronics Corp.

    credit rating                      BBB+/Stable/--    BBB/Stable/--



Copyright (c) 2004, Standard & Poor's Ratings Services Ratings Service

A company, such as Moody's or Standard & Poor's, that rates various debt and preferred stock issues for safety of payment of principal, interest, or dividends.
 
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Publication:Business Wire
Date:Jun 7, 2004
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