S&P Puts Rtgs on 2 Disney-Rel Synth Deals on WatchNeg.Business Editors NEW YORK--(BUSINESS WIRE)--March 21, 2003 Standard & Poor's--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. today placed its 'BBB+' ratings on two synthetic Synthetic A financial instrument that is created artificially by simulating another instrument with the combined features of a collection of other assets. Notes: transactions related to The Walt Disney Noun 1. Walt Disney - United States film maker who pioneered animated cartoons and created such characters as Mickey Mouse and Donald Duck; founded Disneyland (1901-1966) Disney, Walter Elias Disney Co. on CreditWatch with negative implications (see list). CRAVE Trust 1996-403, a swap-dependent synthetic transaction, and CorTS Trust for Walt Disney Notes are weak-linked to the underlying securities issued by The Walt Disney Co. The CreditWatch placements reflect the credit quality of the underlying securities. A copy of The Walt Disney Co.-related release, dated March 20, 2003, is available on RatingsDirect, Standard & Poor's Web-based credit analysis system.
RATINGS PLACED ON CREDITWATCH NEGATIVE
CRAVE Trust 1996-403
$459.65 million Walt Disney credit-linked secured notes and trust
certificates series 1996-403
Rating
Class To From
Notes BBB+/Watch Neg BBB+
CorTS Trust for Walt Disney Notes
$35 million corporate-backed trust securities (CorTS) certificates
Rating
Class To From
Certs BBB+/Watch Neg BBB+
Copyright 2003, Standard & Poor's Ratings Services |
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