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Rating Action:

Moody's downgrades ratings of structured notes affected by American International Group's ratings

14 Jan 2011

New York, January 14, 2011 -- Moody's Investors Service announced today that it has taken rating actions on the following structured note transactions listed below (the "Transactions").

1. Issuer: Anthracite Rated Investments (Cayman) Limited Series 17

Tranche: Principal Protected Notes due 2014 linked to the HFRX Global Tracker Fund; Downgraded to Baa1; previously on May 14, 2009 Confirmed at A3

2. Issuer: ANTHRACITE RATED INVESTMENTS (JERSEY) LIMITED Series 10

Tranche: Series 10 Euro 12,000,000 Principal Protected Bonds due 2012 linked to the LJH Sanctuary Fund; Downgraded to Baa1; previously on May 14, 2009 Confirmed at A3

3. Issuer: Anthracite Rated Investments (Jersey) Limited Series 12

Tranche: Series 12 Principal Protected Bonds due 2013; Downgraded to Baa1; previously on May 14, 2009 Confirmed at A3

Tranche: Series 12 Principal Protected Notes due 2013 (New Notes); Downgraded to Baa1; previously on May 14, 2009 Confirmed at A3

4. Issuer: Anthracite Rated Investments (Jersey) Limited Series 13

Tranche: Series 13 Principal Protected Notes due 2013; Downgraded to Baa1, previously on May 14, 2009 Confirmed at A3

5. Issuer: Anthracite Rated Investments (Jersey) Limited Series 20

Tranche: Series 20 Principal Protected Bonds due 2013; Downgraded to Baa1, previously on May 14, 2009 Confirmed at A3

6. Issuer: Anthracite Rated Investments (Jersey) Limited Series 21

Tranche: Series 21 Principal Protected Bonds due 2013; Downgraded to Baa1, previously on May 14, 2009 Confirmed at A3

7. Issuer: Anthracite Rated Investments (Jersey) Limited Series 27

Tranche: Principal Protected Bonds due 2012 linked to US dollar denominated funds, Downgraded to Baa1; previously on May 14, 2009 Confirmed at A3

8. Issuer: Anthracite Rated Investments (Jersey) Limited Series 29

Tranche: Principal Protected Bonds due 2014 linked to the Hemisphere Defensive Fund, Downgraded to Baa1; previously on May 14, 2009 Confirmed at A3

9. Issuer: Anthracite Rated Investments (Jersey) Limited Series 30

Tranche: Principal Protected Bonds due 2012 linked to Anthracite Master Company (1) Limited and the Nucleus Fund, Downgraded to Baa1; previously on May 14, 2009 Confirmed at A3

10. Issuer: Anthracite Rated Investments (Jersey) Limited Series 31

Tranche: Principal Protected Bonds due 2011 linked to Anthracite Master Company (1) Limited, Olympia Star II Ltd., and Nucleus Fund Ltd., Downgraded to Baa1; previously on May 14, 2009 Confirmed at A3

11. Issuer: Anthracite Rated Investments (Jersey) Limited Series 35

Tranche: Principal Protected Bonds due 2015 linked to the Crown Structured Diversified Segregated Portfolio, Downgraded to Baa1; previously on May 14, 2009 Confirmed at A3

12. Issuer: Anthracite Rated Investments (Jersey) Limited Series 36

Tranche: Principal Protected Bonds due 2015 linked to the Crown Structured Diversified Segregated Portfolio, Downgraded to Baa1; previously on May 14, 2009 Confirmed at A3

13. Issuer: Anthracite Rated Investments (Jersey) Limited Series 43

Tranche: Principal Protected Bonds due 2017 linked to the Crown Structured Diversified Segregated Portfolio, Downgraded to Baa1; previously on May 14, 2009 Confirmed at A3

14. Issuer: Anthracite Rated Investments (Jersey) Limited Series 49

Tranche: Series Series 49 Pound sterling denominated Minimum Redemption Amount Bonds due 2013 linked to a portfolio of funds of hedge funds and mutual funds, Downgraded to Baa1; previously on May 14, 2009 Confirmed at A3

15. Issuer: Anthracite Rated Investments (Jersey) Limited Series 51

Tranche: Series 51 Euro 59,400,000 Principal Protected Bonds due 2016 linked to a basket of funds of hedge funds, Downgraded to Baa1; previously on May 14, 2009 Confirmed at A3

16. Issuer: Anthracite Rated Investments (Jersey) Limited Series 59

Tranche: Series 59 €30,000,000 Principal Protected Bonds due 2018 linked to a basket of funds of hedge funds, Downgraded to Baa1; previously on May 14, 2009 Confirmed at A3

17. Issuer: Anthracite Rated Investments (Jersey) Limited Series 60

Tranche: Series 60 US$12,890,000 130% Auto-Callable Principal Protected Bonds due 2014 Linked To Crown Global Investments Limited, Downgraded to Baa1; previously on May 14, 2009 Confirmed at A3

18. Issuer: Suetone Investments Limited Series 1

Tranche: Series 1 100% Principal Protected Bonds due 2012 linked to Crown Structured Diversified Segregated Portfolio, Downgraded to Baa1; previously on May 14, 2009 Confirmed at A3

19. Issuer: Suetone Investments Limited Series 2

Tranche: Series 2 100% Principal Protected Bonds due 2015 linked to Crown Structured Diversified Segregated Portfolio, Downgraded to Baa1; previously on May 14, 2009 Confirmed at A3

20. Issuer: Suetone Investments Limited Series 3

Tranche: Series 3 100% Principal Protected Bonds due 2012 linked to Crown Structured Diversified Segregated Portfolio Fund, Downgraded to Baa1; previously on May 14, 2009 Confirmed at A3

RATINGS RATIONALE

These transactions are structured notes whose ratings are based on the support of the Principal Protection Agreement between the Issuers and the Principal Protection Providers as well as the legal structure of the transactions. The Protection Provider for each of these transactions is Banque AIG. Moody's downgraded the rating of Banque AIG to Baa1 on January 12, 2011.

The principal methodology used in these ratings was "Moody's Approach to Rating Repackaged Securities" published in April 2010.

Further information on Moody's analysis of this transaction is available on www.moodys.com. In addition, Moody's publishes a weekly summary of structured finance credit, ratings and methodologies, available to all registered users of our website, at www.moodys.com/SFQuickCheck.

REGULATORY DISCLOSURES

Information sources used to prepare the credit rating are the following: parties involved in the ratings, public information, and proprietary Moody's Investors Service information.

Moody's Investors Service considers the quality of information available on the issuer or obligation satisfactory for the purposes of maintaining a credit rating.

Moody's adopts all necessary measures so that the information it uses in assigning a credit rating is of sufficient quality and from sources Moody's considers to be reliable including, when appropriate, independent third-party sources. However, Moody's is not an auditor and cannot in every instance independently verify or validate information received in the rating process.

Please see ratings tab on the issuer/entity page on Moodys.com for the last rating action and the rating history.

The date on which some Credit Ratings were first released goes back to a time before Moody's Investors Service's Credit Ratings were fully digitized and accurate data may not be available. Consequently, Moody's Investors Service provides a date that it believes is the most reliable and accurate based on the information that is available to it. Please see the ratings disclosure page on our website www.moodys.com for further information.

Please see the Credit Policy page on Moodys.com for the methodologies used in determining ratings, further information on the meaning of each rating category and the definition of default and recovery.

New York
Ainat Koller
Associate Analyst
Structured Finance Group
Moody's Investors Service
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653

New York
Rodrigo Araya
Senior Vice President
Structured Finance Group
Moody's Investors Service
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653

Moody's Investors Service
250 Greenwich Street
New York, NY 10007
U.S.A.
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653

Moody's downgrades ratings of structured notes affected by American International Group's ratings
No Related Data.
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CREDIT RATINGS ISSUED BY MOODY'S CREDIT RATINGS AFFILIATES ARE THEIR CURRENT OPINIONS OF THE RELATIVE FUTURE CREDIT RISK OF ENTITIES, CREDIT COMMITMENTS, OR DEBT OR DEBT-LIKE SECURITIES, AND MATERIALS, PRODUCTS, SERVICES AND INFORMATION PUBLISHED BY MOODY’S (COLLECTIVELY, “PUBLICATIONS”) MAY INCLUDE SUCH CURRENT OPINIONS. MOODY’S DEFINES CREDIT RISK AS THE RISK THAT AN ENTITY MAY NOT MEET ITS CONTRACTUAL FINANCIAL OBLIGATIONS AS THEY COME DUE AND ANY ESTIMATED FINANCIAL LOSS IN THE EVENT OF DEFAULT OR IMPAIRMENT. SEE APPLICABLE MOODY’S RATING SYMBOLS AND DEFINITIONS PUBLICATION FOR INFORMATION ON THE TYPES OF CONTRACTUAL FINANCIAL OBLIGATIONS ADDRESSED BY MOODY’S CREDIT RATINGS. CREDIT RATINGS DO NOT ADDRESS ANY OTHER RISK, INCLUDING BUT NOT LIMITED TO: LIQUIDITY RISK, MARKET VALUE RISK, OR PRICE VOLATILITY. CREDIT RATINGS, NON-CREDIT ASSESSMENTS (“ASSESSMENTS”), AND OTHER OPINIONS INCLUDED IN MOODY’S PUBLICATIONS ARE NOT STATEMENTS OF CURRENT OR HISTORICAL FACT. MOODY’S PUBLICATIONS MAY ALSO INCLUDE QUANTITATIVE MODEL-BASED ESTIMATES OF CREDIT RISK AND RELATED OPINIONS OR COMMENTARY PUBLISHED BY MOODY’S ANALYTICS, INC. AND/OR ITS AFFILIATES. MOODY’S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS AND PUBLICATIONS DO NOT CONSTITUTE OR PROVIDE INVESTMENT OR FINANCIAL ADVICE, AND MOODY’S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS AND PUBLICATIONS ARE NOT AND DO NOT PROVIDE RECOMMENDATIONS TO PURCHASE, SELL, OR HOLD PARTICULAR SECURITIES. MOODY’S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS AND PUBLICATIONS DO NOT COMMENT ON THE SUITABILITY OF AN INVESTMENT FOR ANY PARTICULAR INVESTOR. MOODY’S ISSUES ITS CREDIT RATINGS, ASSESSMENTS AND OTHER OPINIONS AND PUBLISHES ITS PUBLICATIONS WITH THE EXPECTATION AND UNDERSTANDING THAT EACH INVESTOR WILL, WITH DUE CARE, MAKE ITS OWN STUDY AND EVALUATION OF EACH SECURITY THAT IS UNDER CONSIDERATION FOR PURCHASE, HOLDING, OR SALE.

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MJKK or MSFJ (as applicable) hereby disclose that most issuers of debt securities (including corporate and municipal bonds, debentures, notes and commercial paper) and preferred stock rated by MJKK or MSFJ (as applicable) have, prior to assignment of any credit rating, agreed to pay to MJKK or MSFJ (as applicable) for credit ratings opinions and services rendered by it fees ranging from JPY100,000 to approximately JPY550,000,000.

MJKK and MSFJ also maintain policies and procedures to address Japanese regulatory requirements.

​
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