New Issue: MADRID ICO-FTVPO I, Fondo de Titulizacion de Activos Jan 09
Standard & Poors, January 2009
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
Abstract
Standard & Poor's Ratings Services has assigned a credit rating to the -260.3 million mortgage-backed floating-rate notes issued by Madrid ICO-FTVPO I, Fondo de Titulizaci-n de Activos. At the same time, Madrid ICO-FTVPO I entered into a loan contract with the originator (loan B) for -35.0 million. This is the first transaction done by Caja de Ahorros y Monte de Piedad de Madrid (Caja Madrid; A+/Negative/A-1) under the government's ICO-FTVPO guarantee program, in which the originator securitized standard mortgage loans granted to borrowers for the acquisition of a protected property. The final pool comprises approximately 80% mortgage loans granted for the purchase of a protected property and 20% of nonprotected properties in order to meet the requirements of the program....
Companies mentioned in this report are: MADRID ICO-FTVPO I, Fondo de Titulizacion de Activos
Action: New Rating
MADRID ICO-FTVPO I, Fondo de Titulizacion de Activos
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