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Fitch Rates Wells Fargo Stage Trust, Series 2011-8C, 10C & 13C Floater & Residual Certificates


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© Business Wire 2011
2011-01-27 17:32:04 -

Fitch Ratings assigns the following ratings to the floater certificates and residual certificates of the series listed below.

--Series 2011-8C: floaters 'AAA/F1+'; residuals 'AAA';

--Series 2011-10C: floaters 'AA/F1+'; residuals'AA';

--Series 2011-13C: floaters 'AA+/F1+'; residuals 'AA+'.

The long-term ratings are based on the ratings that Fitch has assigned to the following bonds that have been deposited in each trust.

--Series 2011-8C: State of Florida, full faith and credit state board of education public education capital outlay bonds, 2010 series B (rated 'AAA', Outlook Negative);

--Series 2011-10C: County of Montgomery, Ohio, revenue bonds (Catholic Health Initiatives) series 2009A (rated 'AA', Outlook Stable);

--Series 2011-13C: New York City Municipal Water Finance

Authority, water and sewer system second general resolution revenue bonds, fiscal 2011 series EE (rated 'AA+', Outlook Stable).

The short-term 'F1+' rating assigned to each series is based on the liquidity facility for each series provided by Wells Fargo Bank, N.A.
Each 'F1+' rating will expire on Jan. 15, 2012, the expiration date of the series liquidity facility, unless such date is extended or earlier terminated.

Additional information is available at ' www.fitchratings.com : cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww .. '.

Applicable criteria and Relevant Research.

--'U.S. Municipal Structured Finance Rating Criteria', Aug. 16, 2010;

--'Guidelines for Rating Secondary Market Synthetic Floating-Rate Securities', Nov. 25, 2008.

Applicable Criteria and Related Research.

U.S. Municipal Structured Finance Rating Criteria

www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id= .. : cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww ..

Guidelines for Rating Secondary Market Synthetic Floating-Rate Securities

www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id= .. : cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww ..

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS : cts.businesswire.com/ct/CT?id=smartlink&url=HTTP%3A%2F%2FFIT .. .
IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE ' WWW.FITCHRATINGS.COM : cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2FWWW .. '.
PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE.

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Fitch RatingsCindy Stoller, +1-212-908-0526Media Relations,
New York cindy.stoller@fitchratings.com : mailto:cindy.stoller@fitchratings.com orPrimary

Analyst:Mary Jane Ziga, +1-212-908-0529Senior DirectorFitch,
Inc.One State Street PlazaNew York, NY 10004orSecondary

Analyst:Richard Park, +1-212-908-0289Associate DirectororCommittee
Chair:Linda Friedman, +1-212-908-0727Senior Director


Author:
Hossam Abdel-Kader
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