S&P lowers Private Export

Standard & Poor’s said it lowered the long-term issuer credit and senior secured ratings on Private Export Funding Corp. to A from A+.

The company’s A-1 short-term issuer credit and commercial-paper ratings are unchanged.

All of the other ratings on the company remain on CreditWatch with negative implications.

The one-notch downgrade reflects the company’s diminished business position, S&P said.

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