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Bulletin: S&P Comments On Potential Rating Impact For Deals With Caixa Catalunya As Counterparty
Standard & Poors, Nov 2008
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Abstract
MADRID (Standard & Poor's) Nov. 4, 2008-Standard & Poor's Ratings Services said today that it is reviewing the exposure of six Spanish RMBS transactions to Caixa d'Estalvis de Catalunya (Caixa Catalunya), where that entity acts as a counterparty in certain roles. In our opinion, the credit profile of Caixa Catalunya has weakened. We consider that in accordance with our counterparty and support party criteria the bank's credit quality can no longer support the current ratings assigned to the securitizations listed below. Caixa Catalunya acts as interest rate swap counterparty and transaction account provider to the following transactions: - Hipocat 7, Fondo de Titulizacion de Activos - Hipocat 8, Fondo de Titulizacion de Activos - Hipocat 9, Fondo de Titulizacion de...
Companies mentioned in this report are: Hipocat 7, Fondo de Titulizacion de Activos,Hipocat 8, Fondo de Titulizacion de Activos,Hipocat 9, Fondo de Titulizacion de Activos,Hipocat 10, Fondo de Titulizacion de Activos,Hipocat 11, Fondo de Titulizacion de Activos,Hipocat 15, Fondo de Titulizacion de Activos
Action: Bulletin
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