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Preliminary Ratings Assigned To Caixa Catalunya's 14th Spanish RMBS Transaction
Standard & Poors, May 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.
MADRID (Standard & Poor's) May 9, 2008-Standard & Poor's Ratings Services said today that it has assigned its preliminary credit ratings to the -1.2 billion mortgage-backed floating-rate notes to be issued by Hipocat 15, Fondo de Titulizaci-n de Activos (see list below). The originator of this transaction is Caixa d'Estalvis de Catalunya (Caixa Catalunya). At closing, Caixa Catalunya will sell the issuer a -1.2 billion closed pool of mortgage loans granted to Spanish residents. The mortgage loans will be backed by first-ranking mortgages. This will be Caixa Catalunya's 14th residential mortgage-backed securitization of Spanish mortgage loans. In this transaction, Caixa Catalunya will act as originator, servicer, swap counterparty, and bank account provider. The collateral comprises loans, which, unlike in previous...
Companies mentioned in this report are: Hipocat 15, Fondo de Titulizacion de Activos
Action: Preliminary Rating
Hipocat 15, Fondo de Titulizacion de Activos