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Bulletin: Ratings Confirmed In Three German Auto ABS Transactions Globaldrive 2009-C, 2009-D, And 2010-A Following Data Update
Standard & Poors, April 2011
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.
Abstract
OVERVIEW We have received updated static net loss data for the Globaldrive 2009-C, 2009-D, and 2010-A transactions following a data entry error in the originator's data compilation process. We have analyzed the amended data and concluded that the error, in and of itself, will not affect the current ratings in these three transactions. German auto loan receivables originated by the German branch of FCE Bank PLC back each transaction. FRANKFURT (Standard & Poor's) April 27, 2011--Standard & Poor's Ratings Services today confirmed that a data error by FCE Bank PLC relating to the Globaldrive Auto Receivables 2009-C B.V., Globaldrive Auto Receivables 2009-D B.V., and Globaldrive Auto Receivables 2010-A B.V. transactions will not, in and of itself, affect its credit ratings...
Companies mentioned in this report are: Globaldrive Auto Receivables 2009-C B.V.,Globaldrive Auto Receivables 2009-D B.V.,Globaldrive Auto Receivables 2010-A B.V.
Action: Bulletin
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