More Alliant-Linked CMBS Bonds Downgraded

The long-term ratings on five more commercial mortgage-backed security bonds linked to Alliant Energy Corp. have been lowered from A-minus to BBB-plus by Standard & Poor's.The downgrades of the adjustable-rate revenue refunding bonds -- secured by mortgages on various multifamily developments in Wisconsin -- followed close on the heels of 12 others announced by S&P. The affected bonds were as follows: Marshfield Community Development Authority (Woodlands Project and Tower Hall Project), Pardeeville Community Development Authority (Parkview Senior Apartments Project and Parkview Family Apartments Project), and Verona Community Development Authority (Sugar Creek Project). The downgrades reflect the lowering of Alliant's long-term corporate credit rating from A-minus to BBB-plus, S&P said.