New York, December 10, 2009 -- Moody's Investors Service announced today that it has taken rating
action on the following structured note transactions listed below (the
"Transactions"). Moody's explains that these
Transactions are structured as direct pass-throughs of underlying
securities each of which have experienced recent rating actions due to
the revision to Moody's methodology for rating bank hybrid and subordinate
debt announced by Moody's on November 18, 2009.
Today's rating actions are as follows:
1
Deal: $45,548,550 8.20% Corporate-Backed
Trust Securities Certificates issued by CorTS Trust for First Union Institutional
Capital I
Tranche: $1,821,942 8.20% Corporate-Backed
Trust Securities Certificates; Downgraded to Baa2; Previously
on April 23, 2009 Downgraded to A3
Underlying security: 8.04% Capital Securities due
December 1, 2026 issued by First Union Institutional Capital I
2
Deal: ABN AMRO North America Holding Preferred Capital Repackaging
Trust I
Tranche: $850,000,000 6.523% Fixed/Floating
Noncumulative Trust Securities; Upgraded to Ba3; Previously
on August 21,2009 B3, Placed on review for upgrade
Underlying security: Floating Rate Non-Cumulative Company
Preferred Securities each issued by an indirect subsidiary of ABN AMRO
North America Holding Company
3
Deal: Auction Pass-Through Trust 2006-1
Tranche: $50,600,000 Class A Certificates;
A3, Placed on review for downgrade; Previously on June 17,
2009 Downgraded to A3
Tranche: $12,650,000 Class B Certificates;
A3, Placed on review for downgrade; Previously on June 17,
2009 Downgraded to A3
Underlying security: Series F Floating Rate Preferred Stock and
Series G Floating Rate Preferred Stock issued by HSBC USA Inc.
4
Deal: Auction Pass-Through Trust 2006-3
Tranche: $120,000,000 Class A Certificates;
Upgraded to Ba3; Previously on August 21,2009 B3, Placed
on review for upgrade
Tranche: $30,000,000 Class B Certificates;
Upgraded to Ba3; Previously on August 21,2009 B3, Placed
on review for upgrade
Underlying security: Series 4 Floating Rate Non-Cumulative
Preferred Stock issued by Merrill Lynch
5
Deal: Auction Pass-Through Trust 2006-4
Tranche: $120,000,000 Class A Certificates;
Upgraded to Ba3; Previously on August 21,2009 B3, Placed
on review for upgrade
Tranche: $30,000,000 Class B Certificates;
Upgraded to Ba3; Previously on August 21,2009 B3, Placed
on review for upgrade
Underlying security: Series 4 Floating Rate Non-Cumulative
Preferred Stock issued by Merrill Lynch
6
Deal: Auction Pass-Through Trust 2006-5
Tranche: $120,000,000 Class A Certificates;
A2, Placed on review for downgrade; Previously on April 14,
2009 Downgraded to A2;
Tranche: $30,000,000 Class B Certificates;
A2, Placed on review for downgrade; Previously on April 14,
2009 Downgraded to A2;
Underlying security: Non-Cumulative Perpetual Preferred Stock,
Series 4 issued by U.S Bancorp
7
Deal: Auction Pass-Through Trust 2006-6
Tranche: $120,000,000 Class A Certificates;
A2, Placed on review for downgrade; Previously on April 14,
2009 Downgraded to A2;
Tranche: $30,000,000 Class B Certificates;
A2, Placed on review for downgrade; Previously on April 14,
2009 Downgraded to A2;
Underlying security: Non-Cumulative Perpetual Preferred Stock,
Series 4 issued by U.S Bancorp
8
Deal: Auction Pass-Through Trust 2006-7
Tranche: $96,000,000 Class A Certificates;
A3, Placed on review for downgrade; Previously on January 9,
2009 Downgraded to A3;
Tranche: $24,000,000 Class B Certificates;
A3, Placed on review for downgrade; Previously on January 9,
2009 Downgraded to A3;
Underlying security: Floating Rate Non-Cumulative Preferred
Stock, Series A, C, and D issued by Goldman, Sachs
Group, Inc.
9
Deal: Auction Pass-Through Trust 2006-8
Tranche: $96,000,000 Class A Certificates;
A3, Placed on review for downgrade; Previously on January 9,
2009 Downgraded to A3;
Tranche: $24,000,000 Class B Certificates;
A3, Placed on review for downgrade; Previously on January 9,
2009 Downgraded to A3;
Underlying security: Floating Rate Non-Cumulative Preferred
Stock, Series A, C, and D issued by Goldman, Sachs
Group, Inc.
10
Deal: Auction Pass-Through Trust 2006-10
Tranche: $96,000,000 Class A Certificates;
Baa1, Placed on review for downgrade; Previously on January
9, 2009 Downgraded to Baa1
Tranche: $24,000,000 Class B Certificates;
Baa1, Placed on review for downgrade; Previously on January
9, 2009 Downgraded to Baa1
Underlying security: Floating Rate Non-Cumulative Preferred
Stock, Series A issued by Morgan Stanley
11
Deal: Auction Pass-Through Trust 2006-11
Tranche: $96,000,000 Class A Certificates;
Baa1, Placed on review for downgrade; Previously on January
9, 2009 Downgraded to Baa1
Tranche: $24,000,000 Class B Certificates;
Baa1, Placed on review for downgrade; Previously on January
9, 2009 Downgraded to Baa1
Underlying security: Floating Rate Non-Cumulative Preferred
Stock, Series A issued by Morgan Stanley
12
Deal: Auction Pass-Through Trust 2006-12
Tranche: $70,000,000 Class A Certificates;
Upgraded to Ba3; Previously on August 21, 2009 B3, placed
on review for upgrade
Tranche: $35,000,000 Class B Certificates,
Upgraded to Ba3; Previously onAugust 21, 2009 B3, placed
on review for upgrade
Underlying security: Non-Cumulative Preferred Stock,
Series D issued by Bank of America
13
Deal: Auction Pass-Through Trust 2007-2
Tranche: $120,000,000 Class A Certificates;
Upgraded to Ba3; Previously on August 21, 2009 B3, placed
on review for upgrade
Tranche: $30,000,000 Class B Certificates;
Upgraded to Ba3; Previously on August 21, 2009 B3, placed
on review for upgrade
Underlying security: Floating Rate Non-Cumulative Preferred
Stock, Series 5 issued by Merrill Lynch & Co, Inc.
14
Deal: Auction Pass-Through Trust 2007-3
Tranche: $120,000,000 Class A Certificates;
Upgraded to Ba3; Previously on August 21, 2009 B3, placed
on review for upgrade
Tranche: $30,000,000 Class B Certificates;
Upgraded to Ba3; Previously on August 21, 2009 B3, placed
on review for upgrade
Underlying security: Floating Rate Non-Cumulative Preferred
Stock, Series 5 issued by Merrill Lynch & Co, Inc.
15
Deal: Auction Pass-Through Trust 2007-4
Tranche: $120,000,000 Class A Certificates;
Upgraded to Ba3; Previously on August 21, 2009 B3, placed
on review for upgrade
Tranche: $30,000,000 Class B Certificates;
Upgraded to Ba3; Previously on August 21, 2009 B3, placed
on review for upgrade
Underlying security: Floating Rate Non-Cumulative Preferred
Stock, Series 5 issued by Merrill Lynch & Co, Inc.
16
Deal: Auction Pass-Through Trust 2007-5
Tranche: $112,000,000 Class A Certificates;
Upgraded to Ba3; Previously on August 21, 2009 B3, placed
on review for upgrade
Tranche: $28,000,000 Class B Certificates;
Upgraded to Ba3; Previously on August 21, 2009 B3, placed
on review for upgrade
Underlying security: Floating Rate Non-Cumulative Preferred
Stock, Series E issued by Bank of America
17
Deal: Auction Pass-Through Trust 2007-T1
Tranche: $95,000,000 Class A Certificates;
A1, Placed on review for downgrade; Previously on January 30,
2009 Downgraded to A1
Tranche: $19,000,000 Class B Certificates;
A1, Placed on review for downgrade; Previously on January 30,
2009 Downgraded to A1
Underlying security: JP Morgan Chase Capital XXI Floating Rate Capital
Securities
18
Deal: Auction Pass-Through Trust 2007-T2
Tranche: $60,000,000 Class A Certificates;
Baa2, Placed on review for downgrade; Previously on April 23,
2009 Downgraded to Baa2
Tranche: $20,000,000 Class B Certificates;
Baa2, Placed on review for downgrade; Previously on April 23,
2009 Downgraded to Baa2
Underlying security: Non-Cumulative Callable Dollar Preference
Shares, Series 1 issued by Barclays Bank Plc
19
Deal: Auction Pass-Through Trust 2007-T4
Tranche: $45,000,000 Class A Certificates;
Baa2, Placed on review for downgrade; Previously on April 23,
2009 Downgraded to Baa2
Tranche: $15,000,000 Class B Certificates;
Baa2, Placed on review for downgrade; Previously on April 23,
2009 Downgraded to Baa2
Underlying security: Non-Cumulative Callable Dollar Preference
Shares, Series 1 issued by Barclays Bank Plc
20
Deal: Auction Pass-Through Trust 2007-T5
Tranche: $72,000,000 Class A Certificates;
A1, Placed on review for downgrade; Previously on January 30,
2009 Downgraded to A1
Tranche: $18,000,000 Class B Certificates;
A1, Placed on review for downgrade; Previously on January 30,
2009 Downgraded to A1
Underlying security: JP Morgan Chase Capital XXIII Floating Rate
Capital Securities, Series W
21
Deal: Auction Rate Securities Trust 2007-1
Tranche: $60,000,000 Class A Auction Rate Trust
Certificates; Upgraded to Ba3; Previously on August 21,
2009 B3, placed on review for upgrade
Tranche: $15,000,000 Class B Leveraged Trust
Certificates; Upgraded to Ba3; Previously on August 21,
2009 B3, placed on review for upgrade
Underlying security: Floating Rate Non-Cumulative Preferred
Stock, Series 5 issued by Merrill Lynch
22
Deal: Auction Rate Securities Trust 2007-2
Tranche: $40,000,000 Class A Auction Rate Trust
Certificates; Upgraded to Ba3; Previously on August 21,
2009 B3, placed on review for upgrade
Tranche: $10,000,000 Class B Leveraged Trust
Certificates; Upgraded to Ba3; Previously on August 21,
2009 B3, placed on review for upgrade
Underlying security: Floating Rate Non-Cumulative Preferred
Stock, Series E issued by Bank of America
23
Deal: CABCO Series 2004-1 Trust (Goldman Sachs Capital I)
Tranche: $62,500,000 Certificate Principal Balance,
Class A-1 Callable Certificates 6.00% Pass-Through
Rate; A2, Placed on review for downgrade; Previously on
December 23, 2008 Downgraded to A2
Underlying security: 6.345% Guaranteed Capital Securities
issued by Goldman Sachs Capital I
24
Deal: CABCO Series 2004-101 Trust (Goldman Sachs Capital
I)
Tranche: $150,000,000 Floating Rate Callable
Certificates; A2, Placed on review for downgrade; Previously
on December 23, 2008 Downgraded to A2
Underlying security: 6.345% Guaranteed Capital Securities
issued by Goldman Sachs Capital I
25
Deal: Corporate Backed Trust Certificates, Goldman Sachs Capital
I Securities-Backed Series 2004-7 Trust
Tranche: US$30,000,000 Class A-1 Certificates
due February 15, 2034; A2, Placed on review for downgrade;
Previously on December 23, 2008 Downgraded to A2
Underlying security: 6.345% Guaranteed Capital Securities
issued by Goldman Sachs Capital I
26
Deal: Corporate Backed Trust Certificates, Series 2004-4,
Goldman Sachs Capital I Securities-Backed
Tranche: US$85,000,000 6.00% Class
A-1 Certificates due February 15, 2034; A2, Placed
on review for downgrade; Previously on December 23, 2008 Downgraded
to A2
Tranche: US$3,656,000 7.00% Class
A-2 Certificates Due 02/15/2034; A2, Placed on review
for downgrade; Previously on December 23, 2008 Downgraded to
A2
Underlying security: 6.345% Guaranteed Capital Securities
issued by Goldman Sachs Capital I
27
Deal: Corporate-Backed Trust Certificates, Goldman
Sachs Capital I Securities-Backed Series 2004-6 Due 2034
Tranche: US$25,000,000 Floating Rate Certificates
due February 15, 2034; A2, Placed on review for downgrade;
Previously on December 23, 2008 Downgraded to A2
Underlying security: 6.345% Guaranteed Capital Securities
issued by Goldman Sachs Capital I
28
Deal: CorTS Trust for Goldman Sachs Capital I
Tranche: Class A Corporate-Backed Trust Securities due February
15, 2034; A2, Placed on review for downgrade; Previously
on December 23, 2008 Downgraded to A2
Tranche: Class B Corporate-Backed Trust Securities due February
15, 2034; A2, Placed on review for downgrade; Previously
on December 23, 2008 Downgraded to A2
Underlying security: 6.345% Guaranteed Capital Securities
issued by Goldman Sachs Capital I
29
Deal: CorTS Trust II for Goldman Sachs Capital I
Tranche: Class A Corporate-Backed Trust Securities due February
15, 2034; A2, Placed on review for downgrade; Previously
on December 23, 2008 Downgraded to A2
Tranche: Class B Corporate-Backed Trust Securities due February
15, 2034; A2, Placed on review for downgrade; Previously
on December 23, 2008 Downgraded to A2
Underlying security: 6.345% Guaranteed Capital Securities
issued by Goldman Sachs Capital I
30
Deal: Fixed Income Pass-Through Trust 2007-C
Tranche: U.S. $110,000,000 Class
A Auction Rate Trust Certificates; A1, Placed on review for
downgrade; Previously on January 30, 2009 Downgraded to A1
Tranche: U.S. $22,000,000 Class
B Leveraged Trust Certificates; A1, Placed on review for downgrade;
Previously on January 30, 2009 Downgraded to A1
Underlying security: JPMorgan Chase Capital XXIII, Floating
Rate Capital Securities, Series W
31
Deal: HSBC - STARS & STRIPES Custodial Receipts (Merrill
Series 2)
Tranche: $36,400,000 Structured Auction Rate
Securities Stock Custodial Receipts, Merrill Series 2; Upgraded
to Ba3; Previously on August 21, 2009 B3 placed on review for
upgrade
Tranche: $19,600,000 Structured Residual Interest
Preferred Enhanced Securities Stock Custodial Receipts, Merrill
Series 2; Upgraded to Ba3; Previously on August 21, 2009
B3 placed on review for upgrade
Underlying security: Floating Rate Non-Cumulative Preferred
Stock, Series 2 issued by Merrill Lynch & Co.,
Inc.
32
Deal: HSBC - STARS/STRIPES Custodial Receipts (Goldman Series
D)
Tranche: $52,000,000 Structured Auction Rate
Securities Stock Custodial Receipts, Goldman Series D; A3,
Placed on review for downgrade; Previously on December 23,
2008 Downgraded to A3
Tranche: $28,000,000 Structured Residual Interest
Preferred Enhanced Securities Stock Custodial Receipts, Goldman
Series D; A3, Placed on review for downgrade; Previously
on December 23, 2008 Downgraded to A3
Underlying security: Floating Rate Non-Cumulative Preferred
Stock, Series D issued by Goldman, Sachs Group, Inc.
33
Deal: Landmark Primary Trust Series A Interest Certificates
Tranche: US $20,000,000 aggregate face amount
of Principal Certificates, Series A; Baa1, Placed on
review for downgrade; Previously on April 23, 2009 downgraded
to Baa1
Underlying security: $20,000,000 face amount
of Undated Subordinated Floating Rate Primary Capital Notes, Series
1 issued by Barclays Bank Plc.
34
Deal: Landmark Primary Trust Series C Interest Certificates
Tranche: US $16,000,000 aggregate face amount
of Principal Certificates, Series C; Aa3, Placed on review
for downgrade; Previously on December 17, 2008 upgraded to
Aa3
Underlying security: U.S. $16,000,000
face amount of Undated Subordinated Floating Rate Primary Capital Notes
issued by Societe Generale
35
Deal: BAC AAH Capital Funding LLC X
Tranche: $70,000,000 Money Market Preferred Stock
Custodial Receipts, Bank of America Corporation, Series X;
Upgraded to Ba3; Previously on August 21, 2009 B3, Placed
on review for upgrade
Underlying security: Floating Rate Noncumulative Company Preferred
Securities X issued by BAC AAH Capital Funding LLC X
36
Deal: BAC AAH Capital Funding LLC XI
Tranche: $70,000,000 Money Market Preferred Stock
Custodial Receipts, Bank of America Corporation, Series XI;
Upgraded to Ba3; Previously on August 21, 2009 B3, Placed
on review for upgrade
Underlying security: Floating Rate Noncumulative Company Preferred
Securities XI issued by BAC AAH Capital Funding LLC XI
37
Deal: Pass-Through Auction Market Preferred Securities,
Series 2007-1
Tranche: $65,000,000 Class A Certificates;
Upgraded to Ba3; Previously on August 21, 2009 B3, Placed
on review for upgrade
Tranche: $16,250,000 Class B Certificates;
Upgraded to Ba3; Previously on August 21, 2009 B3, Placed
on review for upgrade
Underlying security: Floating Rate Non-Cumulative Preferred
Stock, Series 2 and Series 5 issued by Merrill Lynch & Co.,
Inc.
38
Deal: PPLUS Trust Series GSC-1
Tranche: PPLUS Class A 6.25% Trust Certificates;
A2, Placed on review for downgrade, Previously on December
23, 2008 Downgraded to A2
Tranche: PPLUS Class B 0.095% Trust Certificates Series
GSC-1; A2, Placed on review for downgrade, Previously
on December 23, 2008 Downgraded to A2
Underlying security: 6.345% Guaranteed Capital Securities
issued by Goldman Sachs Capital I
39
Deal: PPLUS Trust Series GSC-3
Tranche: PPLUS Class A 6.00% Trust Certificates;
A2, Placed on review for downgrade; Previously on December
23, 2008 Downgraded to A2
Tranche: PPLUS Class B 0.345% Trust Certificates Series
GSC-3; A2, Placed on review for downgrade; Previously
on December 23, 2008 Downgraded to A2
Underlying security: 6.345% Guaranteed Capital Securities
issued by Goldman Sachs Capital I
40
Deal: PPLUS Trust Series GSC-4
Tranche: PPLUS Class A 6.00% Trust Certificates;
A2, Placed on review for downgrade; Previously on December
23, 2008 Downgraded to A2
Tranche: PPLUS Class B 0.345% Trust Certificates Series
GSC-4; A2, Placed on review for downgrade; Previously
on December 23, 2008 Downgraded to A2
Underlying security: 6.345% Guaranteed Capital Securities
issued by Goldman Sachs Capital I
41
Deal: Saguaro Issuer Trust
Tranche: US $15,000,000 aggregate face amount
of Principal Units, Series A; Baa1, Placed on review
for downgrade; Previously on April 23, 2009 downgraded to Baa1
Underlying Security: $15,000,000 face amount
of Undated Subordinated Floating Rate Notes issued by Barclays Bank Plc
Tranche: US $10,000,000 aggregate face amount
of Principal Units, Series B; Baa1, Placed on review
for downgrade; Previously on April 23, 2009 downgraded to Baa1
Underlying Security: $10,000,000 face amount
of Undated Subordinated Floating Rate Notes issued by Barclays Bank Plc
Tranche: US $13,000,000 aggregate face amount
of Principal Units, Series C; Baa1, Placed on review
for downgrade; Previously on April 23, 2009 downgraded to Baa1
Underlying Security: $13,000,000 face amount
of Undated Subordinated Floating Rate Notes issued by Barclays Bank Plc
Tranche: US $11,000,000 aggregate face amount
of Principal Units, Series D; A1, Placed on review for
downgrade; Previously on September 18, 2009 downgraded to A1;
Underlying Security: U.S. $11,000,000
face amount of Perpetual Floating Rate Subordinated Notes of Den Norske
Creditbank
Tranche: U.S. $7,000,000 aggregate
face amount of Principal Units, Series E; A1, Placed
on review for downgrade; Previously on September 18, 2009 downgraded
to A1;
Underlying Security: U.S. $7,000,000
face amount of Floating Rate Capital Notes of Den Norske Creditbank.
Tranche: US $20,000,000 aggregate face amount
of Principal Units, Series F; Downgraded to Ba2; Previously
on September 18, 2009 Downgraded to Ba1 and Placed on review for
downgrade;
Underlying Security: U.S. $20,000,000
face amount of Primary Capital Undated Floating Rate Notes of Lloyds Bank
Plc
Tranche: US $20,000,000 aggregate face amount
of Principal Units, Series G; Downgraded to Ba2; Previously
on September 18, 2009 Downgraded to Ba1 and Placed on Review for
downgrade;
Underlying Security: U.S. $20,000,000
face amount of Undated Capital Floating Rate Notes, Series 2 of
Lloyds Bank Plc
Tranche: US $14,550,000 aggregate face amount
of Principal Units, Series H; A2, Placed on review for
downgrade; Previously on April 30,2009 Downgraded to A2;
Underlying Security: U.S. $14,550,000
face amount of Undated Floating Rate Primary Capital Notes of Midland
Bank Plc
Tranche: US $20,800,000 aggregate face amount
of Principal Units, Series I; A2, Placed on review for
downgrade; Previously on April 30,2009 Downgraded to A2;
Underlying Security: U.S. $20,800,000
face amount of Undated Floating Rate Primary Capital Notes of Midland
Bank Plc
42
Deal: SATURNS Goldman Sachs Capital I Debenture Backed Series 2004-4
Tranche: US $81,000,000 of 6.00%
Deferrable Class A Callable Units due February 15, 2034; A2,
Placed on review for downgrade; Previously on December 23,
2008 Downgraded to A2
Tranche: US $3,615,000 Initial Notional Amortizing
Balance of Interest-Only 7.43% Deferrable Rate Class
B Callable Units Due February 15, 2034; A2, Placed on
review for downgrade; Previously on December 23, 2008 Downgraded
to A2
Underlying security: 6.345% Guaranteed Capital Securities
issued by Goldman Sachs Capital I
43
Deal: SATURNS Goldman Sachs Capital I Debenture Backed Series 2004-6
Tranche: US $80,000,000 of 6.00%
Deferrable Class A Callable Units due February 15, 2034; A2,
Placed on review for downgrade; Previously on December 23,
2008 Downgraded to A2
Tranche: US $3,564,000 Initial Notional Amortizing
Balance of Interest-Only 7.44% Deferrable Rate Class
B Callable Units Due February 15, 2034; A2, Placed on
review for downgrade; Previously on 12/23/2008 Downgraded to A2
Underlying security: 6.345% Guaranteed Capital Securities
issued by Goldman Sachs Capital I
44
Deal: SATURNS Goldman Sachs Capital I Debenture Backed Series 2005-1
Tranche: US $60,000,000 of 6.25%
Deferrable Class A Callable Units due February 15, 2034; A2,
Placed on review for downgrade; Previously on December 23,
2008 Downgraded to A2
Tranche: US $1,574,000 Initial Notional Amortizing
Balance of Interest-Only 7.69% Deferrable Rate Class
B Callable Units Due February 15, 2034; A2, Placed on
review for downgrade; Previously on December 23, 2008 Downgraded
to A2
Underlying security: 6.345% Guaranteed Capital Securities
issued by Goldman Sachs Capital I
45
Deal: Spyglass Trust-1
Tranche: $70,000,000 Face Amount of Principal
Units Due January 28, 2019; Baa1, Placed on review for
downgrade; Previously on June 17, 2009 downgraded to Baa1
Underlying security: Undated Subordinated Floating Rate Notes issued
by Barclays Bank Plc
46
Deal: Spyglass Trust-4
Tranche: $70,000,000 Face Amount of Principal
Units Due January 28, 2019; Downgraded to Ba2; Previously
on September 18, 2009 downgraded to Ba1 and placed on review for
downgrade
Underlying security: Primary Capital Undated Floating Rate Notes
(Series 3) of Lloyds Bank Pl
47
Deal: Spyglass Trust-6
Tranche: $40,000,000 Face Amount of Principal
Units Due 2018; Aa3, Placed on review for downgrade; Previously
on May 22, 2009 upgraded to Aa3
Underlying security: Undated Subordinated Floating Rate Primary
Capital Notes issued by Societe Generale
48
Deal: Wachovia Fixed Income Pass-Through Trust 2007-B
(LeNS)
Tranche: $30,600,000 Class A Auction Rate Trust
Certificates; A1, Placed on review for downgrade; Previously
on January 30, 2009 downgraded to A1
Tranche: $6,800,000 Class B Leveraged Trust Certificates;
A1, Placed on review for downgrade; Previously on January 30,
2009 downgraded to A1
Underlying security: JP Morgan Chase Capital XXI Floating Rate Underlying
Securities, Series U
49
Deal: Wachovia Preferred Pass Through Trust 2006-A
Tranche: $50,000,000 Class A Auction Rate Preferred
Trust Certificates; A3, Placed on review for downgrade;
Previously on December 23, 2008 downgraded to A3
Tranche: $25,000,000 Class B Leveraged Preferred
Trust Certificates; A3, Placed on review for downgrade;
Previously on December 23, 2008 downgraded to A3
Underlying security: Floating Rate Non-Cumulative Preferred
Stock, Series D issued by Goldman, Sachs Group, Inc.
50
Deal: Wachovia Preferred Pass-Through Trust 2006-B
Tranche: $124,000,000 Class A Money Market Preferred
Trust Certificates; Upgraded to Ba3; Previously on September
21, 2009 B3 placed on review for upgrade
Tranche: $31,000,000 Class B Leveraged Preferred
Trust Certificates; Upgraded to Ba3; Previously on September
21, 2009 B3 placed on review for upgrade
Underlying security: Floating Rate Non-Cumulative Preferred
Stock, Series E issued by Bank of America Corporation
New York
Stephen Lioce
Senior Vice President
Structured Finance Group
Moody's Investors Service
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653
New York
Ainat Koller
Senior Associate
Structured Finance Group
Moody's Investors Service
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653
Moody's takes action on structured notes affected by bank hybrid and subordinate debt methodology revision
