S&P Puts 'A-1+' Rating on Brahms Funding Corp on Watch Negative

Apr 13, 2001, 01:00 ET from Standard & Poor's

    NEW YORK, April 13 /PRNewswire/ -- Standard & Poor's today placed its
 'A-1'-plus rating on Brahms Funding Corp.'s asset-backed commercial paper on
 CreditWatch with negative implications. As a result, its 'A-1'-plus
 CreditWatch developing rating, placed on April 11, 2001, has been
 removed.
     This CreditWatch negative placement reflects Standard & Poor's Financial
 Institutions Ratings group's recent CreditWatch negative rating action taken
 on Dresdner Bank AG's short-term rating ('A-1'-plus).  Dresdner Bank AG, in
 its capacity as a swap counterparty in the Brahms Funding Corp. conduit, is a
 rating dependent support provider, Standard & Poor's said. -- CreditWire
 
 

SOURCE Standard & Poor's
    NEW YORK, April 13 /PRNewswire/ -- Standard & Poor's today placed its
 'A-1'-plus rating on Brahms Funding Corp.'s asset-backed commercial paper on
 CreditWatch with negative implications. As a result, its 'A-1'-plus
 CreditWatch developing rating, placed on April 11, 2001, has been
 removed.
     This CreditWatch negative placement reflects Standard & Poor's Financial
 Institutions Ratings group's recent CreditWatch negative rating action taken
 on Dresdner Bank AG's short-term rating ('A-1'-plus).  Dresdner Bank AG, in
 its capacity as a swap counterparty in the Brahms Funding Corp. conduit, is a
 rating dependent support provider, Standard & Poor's said. -- CreditWire
 
 SOURCE  Standard & Poor's