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Insured Custodian Receipts Related To Airspeed Ltd. Class G-1 Notes Series 2007-1 Rated 'AAA'
Standard & Poors, June 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: 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.
NEW YORK (Standard & Poor's) June 25, 2009--Standard & Poor's Ratings Services today assigned its 'AAA' rating to the insured custodian receipts related to a portion of Airspeed Ltd.'s class G-1 floating-rate asset-backed notes series 2007-1. The insured custodian receipts reference $92,415,467.43 (the current par amount) of Airspeed's class G-1 notes series 2007-1, which has amortized down from an original par amount of $100 million. The receipts are held in the Bank of New York Mellon. The rating is based on: -- The current rating on Assured Guaranty Corp. ('AAA' financial enhancement rating); -- Assured Guaranty Corp.'s obligation to act as a "second-to-pay" insurer on Airspeed's class G-1 notes; -- The current rating on Airspeed's class G-1 notes ('A'); and...
Companies mentioned in this report are: Airspeed Limited,Assured Guaranty Corp
Action: New Rating
Airspeed Limited,Assured Guaranty Corp