S&P Asgns CABCO Ser 2002-1,AOL Time Wrnr,Certs Rtg.Business Editors June 24, 2002-- Standard & Poor's assigned its triple-'B'-plus rating to CABCO CABCO California Breast Cancer Organizations Series 2002-1 Trust's (AOL (A division of Time Warner, Inc., New York, NY, www.aol.com) The world's largest online information service with access to the Internet, e-mail, chat rooms and a variety of databases and services. Time Warner Inc.) $50 million 7.625% class A-1 callable Callable Applies mainly to convertible securities. Redeemable by the issuer before the scheduled maturity under specific conditions and at a stated price, which usually begins at a premium to par and declines annually. certificates. The rating reflects the credit quality of the underlying securities, $50 million AOL Time Warner Inc. 7.70% notes due May 1, 2032 (triple-'B'-plus), and addresses the likelihood of the trust making payments on the certificates as required under the trust agreement. The rating does not address the likelihood that AOL Time Warner will continue to file periodic reports as required under the Securities Exchange Act of 1934, as amended. Copyright 2002, 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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