Correction: Challenger Millenium Warehouse H Trust

Standard & Poor's at the end of last year attached a AA- rating to the class A senior notes sold by Challenger Millenium Warehouse H Trust, and ratings of BBB and BB to the B and C tranches.

This newsletter, in the final edition for 2007, reported a few limited details on the issue by Challenger, based on a media release by S&P (with S&P unusually not publishing a standard "pre-sale report" at the request of Challenger). The newsletter also wrongly reported that "what these ratings might be is a mystery for the moment."

In fact S&P disclosed the ratings on the warehouse notes in the media release at the time. So apologies for getting that wrong.