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TEXT-S&P raises STRATS Tr for DaimlerChrysler 2005-P1
March 1, 2012 / 10:02 PM / 6 years ago

TEXT-S&P raises STRATS Tr for DaimlerChrysler 2005-P1

 (The following statement was released by the rating agency)	
 March 1 - Standard & Poor's Ratings Services today raised its rating
on STRATS Trust For DaimlerChrysler N.A. Holding Securities Series 2005-P1's
$100 million certificates to 'A-' from 'BBB+'.	
	
The rating on the certificates is dependent on the lower of (i) the rating on 	
the underlying security, Daimler Finance North America LLC's 6.5% notes due 	
Nov. 15, 2013 ('A-'); and (ii) the long-term rating on the swap counterparty, 	
Wells Fargo Bank N.A. ('AA-').	
	
Today's rating action reflects the Feb. 23, 2012, raising of our rating on the 	
underlying security to 'A-' from 'BBB+'. We may take subsequent rating actions 	
on the certificates due to changes in our ratings assigned to the underlying 	
security or the swap counterparty.  	
  	
STANDARD & POOR'S 17G-7 DISCLOSURE REPORT	
	
SEC Rule 17g-7 requires an NRSRO, for any report accompanying a credit rating 	
relating to an asset-backed security as defined in the Rule, to include a 	
description of the representations, warranties and enforcement  mechanisms 	
available to investors and a description of how they differ from the 	
representations, warranties and enforcement mechanisms in issuances of similar 	
securities. The Rule applies to in-scope securities initially rated (including 	
preliminary ratings) on or after Sept. 26, 2011.	
	
If applicable, the Standard & Poor's 17g-7 Disclosure Report included in this 	
credit rating report is available here 	
	
RELATED CRITERIA AND RESEARCH	
	
  -- Daimler Long-Term Rating Raised To 'A-' On Strong Credit Metrics And 	
Improved Financial Risk Profile; Outlook Stable, published Feb. 23, 2012.	
  -- Global Structured Finance Scenario And Sensitivity Analysis: The 	
Effects Of The Top Five Macroeconomic Factors, published Nov. 4, 2011.	
  -- Legal Criteria For U.S. Structured Finance Transactions: Overview Of 	
Legal Criteria For U.S. Structured Finance Transactions, published Oct. 1, 	
2006.	
  -- Legal Criteria For U.S. Structured Finance Transactions: Criteria 	
Related To Global Synthetic Securities, published Oct. 1, 2006.	
	
 (New York Ratings Team)	
 

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