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Rating Assigned In Cédulas TDA 18's Spanish Mortgage Covered Bond Program Apr 10 Product Image

Rating Assigned In Cédulas TDA 18's Spanish Mortgage Covered Bond Program Apr 10

  • ID: 1713883
  • April 2010
  • Region: Spain
  • Standard & Poors

Abstract
OVERVIEW We have assigned our 'AAA' rating to the first series A issuance under Cédulas TDA 18's program of Spanish multiseller mortgage covered bonds. The outlook is stable. This first issuance is for €1.77 billion out of a total program size of up to €20 billion; additional issuances can be drawn under the program until April 2013. Cédulas TDA 18 repacks Cedulas Hipotecarias of seven Spanish financial entities, initially: Bancaja, Banco de Valencia, Banco Gallego, Caixa Catalunya, Caja Duero, CAM, and Sa Nostra. MADRID (Standard & Poor's) April 15, 2010--Standard & Poor's Ratings Services today assigned its 'AAA' credit rating to Cédulas TDA 18, Fondo de Titulización de Activos' €1.77 billion fixed-rate notes. The outlook is stable. Cédulas TDA 18...

Companies mentioned in this report are:
- Cedulas TDA 18, Fondo de Titulizacion de Activos

Action: New Rating

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.

- Cedulas TDA 18, Fondo de Titulizacion de Activos

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