S&P: Euro Transferable Telereal Securitisation PLC-Related Custodial Receipts Rating Raised To 'BBB+ (sf)'
Our rating on the class B-4 custodial receipts reflects the higher of our ratings on the underlying security, Telereal Securitisation PLC's class B-4 secured notes due Dec. 10, 2033, 'BBB+ (sf)', and the insurance provider, AMBAC Assurance U. K. Ltd. (not rated).
Today's rating actions follow the July 13, 2016, raising of our long-term rating on the underlying security to 'BBB+ (sf)' from 'BBB (sf)'. We may take subsequent rating actions on the certificates due to changes in our ratings on the underlying security.
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