Presale: Bankinter 17 Fondo de Titulización de Activos Jun 08
Standard & Poors, June 2008
Abstract
Standard & Poor's Ratings Services has assigned preliminary credit ratings to the ?1 billion mortgage-backed floating-rate notes to be issued by Bankinter 17 Fondo de Titulización de Activos. The originator is Bankinter S.A. At closing, Bankinter will sell the issuer a ?1 billion closed pool of mortgage loans, which will be backed by first-ranking mortgages. To fund this purchase, Bankinter 17 will issue three classes of floating-rate, quarterly paying notes. Bankinter 17 is a fund whose sole purposes will be to purchase the collateral from Bankinter, issue the notes, and carry out related activities. The issuer will hold a distinct and closed pool of assets available for distribution to the noteholders. The assets will be insulated from the insolvency of...
Companies mentioned in this report are:
- Bankinter S.A.
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: Full Analysis
- Bankinter S.A.
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