TEXT-S&P ups Globaldrive series F jnr nts; snr nts on watch neg


(The following statement was released by the rating agency) June 22 - OVERVIEW -- We have raised and removed from CreditWatch positive our rating on the junior notes. At the same time we have placed the senior notes on CreditWatch negative. -- The upgrade reflects the good performance of the collateral pool. The CreditWatch negative placement reflects the risk associated with the account bank not having the minimum rating required under the transaction's documents. -- Globaldrive ...

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