Search the web
Welcome, Guest
[Sign Out, My Account]
EDGAR_Online

Quotes & Info
Enter Symbol(s):
e.g. YHOO, ^DJI
Symbol Lookup | Financial Search
GJJ > SEC Filings for GJJ > Form 8-K on 31-Oct-2012All Recent SEC Filings

Show all filings for STRATS SM TRUST FOR GOLDMAN SACHS GROUP SEC SERIES 2004-8 | Request a Trial to NEW EDGAR Online Pro

Form 8-K for STRATS SM TRUST FOR GOLDMAN SACHS GROUP SEC SERIES 2004-8


31-Oct-2012

Other Events


Item 8.01 Other Events.

On October 18, 2012, Standard & Poor's Ratings Services ("Standard & Poor's) announced that it was updating its rating methodology for repackaged securities, effective immediately. As a result of this change, Standard & Poor's announced on October 25, 2012 that it has withdrawn its rating assigned to the Floating Rate Structured Repackaged Asset-Backed Trust Securities (STRATS(SM) Certificates, Series 2004-8) issued by STRATS(SM) Trust for Goldman Sachs Group Securities Series 2004-8 (the "Certificates"). Standard and Poor's indicated that the rating assigned to the Certificates was being withdrawn because a redemption of the Certificates together with a termination of the Swap Agreement (either in whole or proportionately) in which termination payments are owed to the Swap Counterparty could result in payment shortfalls to holders of the Certificates. The ratings action was specific to this feature of the Certificates and did not address, and to our knowledge the ratings action does not relate to or affect, Standard & Poor's existing ratings of the Underlying Securities or the Swap Counterparty.

The withdrawal of the rating previously assigned to the Certificates does not constitute a termination event under the terms of the Certificates or the Swap Agreement; however, the withdrawal of the rating may have a material adverse effect on the secondary market price and liquidity of the Certificates. Many institutional investors prefer or are required to invest in securities assigned particular ratings. If a significant amount of the Certificates are held by such investors, the withdrawal of the rating previously assigned to the Certificates may cause these investors to sell their Certificates within a limited period of time. In these circumstances, the market price of the Certificates may be adversely affected, and prospective sellers of the Certificates may be unable to sell their Certificates at the prices at which their Certificates were acquired or, in some cases, may be unable to find a buyer for their Certificates at any price.


  Add GJJ to Portfolio     Set Alert         Email to a Friend  
Get SEC Filings for Another Symbol: Symbol Lookup
Quotes & Info for GJJ - All Recent SEC Filings
Sign Up for a Free Trial to the NEW EDGAR Online Pro
Detailed SEC, Financial, Ownership and Offering Data on over 12,000 U.S. Public Companies.
Actionable and easy-to-use with searching, alerting, downloading and more.
Request a Trial      Sign Up Now


Copyright © 2014 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service
SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Yahoo! nor any of independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing the Yahoo! site, you agree not to redistribute the information found therein.