Ratings On Five SunTrust Bank-Related LOC-Supported Bonds Placed On CreditWatch Positive

NEW YORK (S&P Global Ratings) Feb. 15, 2019--S&P Global Ratings today placed 
its ratings on five bond issuances backed by letters of credit (LOCs) from 
SunTrust Bank on CreditWatch with positive implications (see list).

The rating actions reflect the Feb. 8, 2019, placement of our 'A-/A-2' issuer 
credit rating on SunTrust Bank on CreditWatch positive.

The long- and short-term components of our ratings on the bonds are based on 
our long- and short-term issuer credit ratings on the LOC provider. The 
long-term component of our rating on the bonds addresses the likelihood, in 
our view, of full and timely interest and principal payments when the 
bondholders have not exercised the put option. The short-term component of our 
rating addresses the likelihood, in our view, of full and timely interest and 
principal payments when the bondholders have exercised the put option.

Changes to our ratings on these bonds can result from, among other things, 
changes to our ratings on the LOC provider, the LOCs expiration or 
termination, or amendments to the transactions' terms.

We will maintain our ratings on the bonds as long as they are in the rated 
modes and the LOCs have not expired or otherwise terminated. If either of 
these conditions change, we will likely withdraw our ratings.
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