OREANDA-NEWS. S&P Global Ratings has affirmed its 'BB+' rating on DOT Headquarters Depositor Corp., D. C.'s series 2004 taxable lease-backed mortgage pass-through class A-1 certificates. We subsequently withdrew our rating.

"The withdrawal reflects our decision to no longer devote our analytic resources to rate the transaction," said S&P Global Ratings credit analyst Victor Medeiros, "given its unique structure that makes it an outlier as compared to other credits in our federal lease-backed portfolio."





B&B's senior unsecured debt ratings are sensitive to a change in the UK's sovereign rating or to a change in the conditions of the guarantee granted by the UK government to the bank's senior debt.

Fitch believes that timely payment under the guarantee is highly likely as non-payment of the guarantor would seriously tarnish the UK's reputation in this important area of public policy. Even if government policies in this area were to change, we believe the government would still honour the guarantee given the reputational implications of failing to do so.

The rating actions are as follows:

Senior long-term guaranteed notes, XS0281590488 EUR30m maturing February 2047: affirmed at 'AA'