List Of Spanish Structured Finance Rating Actions Following Sovereign Downgrade--Oct. 11, 2012 Oct 12
- Language: English
- Published: October 2012
- Region: Spain
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Research Type: Full Analysis
Standard & Poor's Ratings Services has assigned preliminary credit ratings to the -2.039 billion floating-rate notes to be issued by IM GRUPO BANCO POPULAR FTPYME II, Fondo de Titulizacion de Activos. The originators of this transaction are: Banco de Andaluc-a S.A., Banco de Castilla S.A., Banco de Cr-dito Balear S.A., Banco de Galicia S.A., Banco de Vasconia S.A., and Banco Popular Espa-ol, S.A. (together "Grupo Banco Popular"). Grupo Banco Popular is Spain's fifth-largest financial institution. At closing, the originators will sell to the issuer a -2 billion closed portfolio of secured and unsecured loans granted to Spanish SMEs. To fund this purchase on the issuer's behalf, the trustee (InterMoney Titulizaci-n, S.G.F.T., S.A.) will issue six classes of floating-rate, quarterly-paying notes....
Companies mentioned in this report are: Banco Popular Espanol, S.A.,IM GRUPO BANCO POPULAR FTPYME II, Fondo de Titulizacion de Activos
Banco Popular Espanol, S.A.,IM GRUPO BANCO POPULAR FTPYME II, Fondo de Titulizacion de Activos