NEW YORK, Feb. 11 /PRNewswire/ -- Standard & Poor's today lowered its
triple-'B' rating on Structured Asset Trust Unit Repackages (SATURNS) Cummins
Engine Company Debenture-Backed Series 2001-4 to triple-'B'-minus and removed
it from CreditWatch with negative implications where it was placed on
Dec. 3, 2001.
The lowered rating reflects the Feb. 8, 2002 downgrade of Cummins Inc.'s
long-term corporate and senior unsecured debt ratings, at which time the
ratings were removed from CreditWatch negative.
Structured Asset Trust Unit Repackages (SATURNS) Cummins Engine Company
Debenture-Backed Series 2001-4 is a swap-independent synthetic transaction
that is weak-linked to the underlying collateral, Cummins Inc. debt. The
lowered rating on this transaction reflects the credit quality of the
underlying securities issued by Cummins Inc.
RATINGS LOWERED AND REMOVED FROM CREDITWATCH NEGATIVE
Structured Asset Trust Unit Repackages (SATURNS) Cummins Engine Company
Debenture-Backed Series 2001-4
$27.55 million corporate debenture-backed trust certs
Rating
To From
BBB- BBB/Watch Neg
SOURCE Standard & Poor's
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Related links:
http://www.standardandpoors.com/ratings
CONTACT:
Mary Ryan, +1-212-438-2090, or Frank J Trick,
+1-212-438-1108, both of Standard & Poor's
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