New Issue: Berica 6 Residential MBS S.r.l. Feb 06
- ID: 1721108
- February 2006
- Standard & Poors
Credit ratings were assigned to the mortgage-backed floating-rate and deferred-interest notes issued by Berica 6 Residential MBS S.r.l., a multi-originator mortgage transaction backed by a pool of mortgage loans secured over residential properties located in Italy. The class D notes are issued as an over-issuance, i.e., they are issued in excess of the principal of the securitized mortgage pool. Interest on these notes is paid only after the replenishment of the cash reserve (that is partially funded at 0.8% at issuance date and ramp up to 1.3% trapping excess spread). The class D notes are deferrable-interest notes. The transaction was originated by three banks belonging to the Banca Popolare di Vicenza Group: Banca Popolare di Vicenza ScpA, Cariprato - Cassa...
Companies mentioned in this report are:
- Berica 6 Residential MBS S.r.l.
- Banca Popolare di Vicenza ScpA
- Cariprato-Cassa di Risparmio di Prato SpA
Action: New Rating
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