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New Issue: SOL-LION, Fondo de Titulizacion de Activos Product Image

New Issue: SOL-LION, Fondo de Titulizacion de Activos

  • Published: June 2009
  • Standard & Poors

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 credit ratings to the -4,500 million mortgage-backed floating-rate notes issued by SOL-LION, Fondo de Titulizaci-n de Activos (SOL-LION), the first securitization of prime mortgage loans originated by ING Direct N.V. in Spain. SOL-LION acquired credit rights backed by mortgage loans. To fund this purchase, it issued three classes of floating-rate notes. A reserve fund (1.50%) was funded at closing through a participative loan. The transaction aims to insulate the assets from originator or "sociedad gestora" (fund manager) insolvency. READ MORE >

SOL-LION, Fondo de Titulizacion de Activos

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