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S&P Asgns COBALTS Trust Sprint Cap Certs 2002-1 Rtg
Business Wire, April 2, 2002
Business Editors
NEW YORK--(BUSINESS WIRE)--Standard & Poor's
April 2, 2002--Standard & Poor's today assigned its triple-'B'-plus rating to $25 million 8.125% corporate-backed listed trust securities (COBALTS) trust series Sprint Capital certificates series 2002-1 issued by COBALTS Trust for Sprint Capital Notes.
The rating reflects the credit quality of the underlying notes, $29,686,000 6.875% debentures issued by Sprint Capital Corp. due Nov. 15, 2028 (triple-'B'-plus), and addresses the likelihood of the trust making payments on the certificates as required under the trust agreement. The rating does not address the likelihood that the issuer of the underlying notes will continue to file periodic reports as required under the Securities Exchange Act of 1934, as amended.
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