LONDON (Standard & Poor's) April 28, 2005Standard & Poor's Ratings Services said today that it assigned its 'AAA' preliminary credit rating to the €250 million limited-recourse variable-coupon credit-linked and seven-year euro swap rate-linked notes series 05-03 to be issued by Asset-Backed Obligaties Ltd., an SPE (see list below). Asset-Backed Obligaties was incorporated on Feb. 10, 2004 with limited liability in the Cayman Islands for the purpose of issuing multiple series of notes. It accedes to a $10 billion limited-recourse secured note program that was arranged in 1998 by Rabobank International, part of Coöperative Centrale Raiffeisen-Boerenleenbank B.A. (Rabobank Nederland). In this transaction, Rabobank International will transfer a portion of the credit risk associated with a static portfolio of 30 ABS and...
Companies mentioned in this report are:
- Cooperatieve Rabobank U.A.
Action: Preliminary Rating
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Research type: News
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