TEXT-S&P withdraws rating on HMC Cayman Fin's notes

Newswire

(The following statement was released by the ratings agency). LONDON, Aug 26 - Standard & Poor's Ratings Services said today that HMC Cayman Finance Co.'s US$466.9 million 3% secured exchangeable notes due 2003 were repaid in full on Aug. 18, 2003, and the 'AAA' rating on the transaction has been withdrawn. Initially rated in May 2001, the notes are backed by "stripped" U.S. Treasuries, and are exchangeable, at the sole discretion of noteholders, for shares in Kia Motors Corp . This ...

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