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News Now

CU System
Fitch withdraws 3 corporate commercial paper ratings
CHICAGO (1/26/11)--Fitch Ratings has withdrawn the commercial paper ratings of Central Corporate CU (Cencorp), Eastern Corporate FCU (EasCorp) and Southeast Corporate FCU (Southeast). The withdrawal of the commercial paper ratings are due to the elimination, suspension or lack of activity under the corporate credit unions’ respective commercial paper programs (BusinessWire Jan. 24). Although the rating on the commercial paper programs have been withdrawn, Fitch still maintains its short-term Issuer Default Rating of “F1+” on all three institutions. Fitch has withdrawn the following ratings:
* Central Corporate CU, Southfield, Mich.,--Commercial paper “F1+”; * Eastern Corporate FCU, Burlington, Mass.,--Commercial paper “F1+”; and * Southeast Corporate FCU, Tallahassee, Fla.,--Commercial paper “F1+”.
For more information on Fitch Ratings, use the link.
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