OREANDA-NEWS. S&P Global Ratings today raised its rating on the €50 million Euro Transferable Telereal Securitisation PLC–related class B-4 custodial receipts due Dec. 10, 2033, to 'BBB+ (sf)' from 'BBB (sf)'.

Our rating on the class B-4 custodial receipts reflects the higher of our ratings on the underlying security, Telereal Securitisation PLC's class B-4 secured notes due Dec. 10, 2033, 'BBB+ (sf)', and the insurance provider, AMBAC Assurance U. K. Ltd. (not rated).

Today's rating actions follow the July 13, 2016, raising of our long-term rating on the underlying security to 'BBB+ (sf)' from 'BBB (sf)'. We may take subsequent rating actions on the certificates due to changes in our ratings on the underlying security.