Preliminary Ratings Assigned In Banca Unipol's Fourth Italian RMBS Transaction May 06
- ID: 1721115
- May 2006
- Region: Italy
- Standard & Poors
MILAN (Standard & Poor's) May 5, 2006Standard & Poor's Ratings Services said today that it assigned its preliminary credit ratings to the €1.52 billion asset-backed floating-rate notes to be issued by Atlante Finance S.r.l., an SPE (see list below). This transaction is the "term out" phase of a warehouse program set up in December 2004. During the warehouse phase, Grecale ABS S.r.l. bought five portfolios from the originator and issued unrated notes. At closing, Atlante will buy the unrated notes issued by Grecale ABS and will issue rated notes to finance the purchase. The collateral for the rated notes issued by Atlante will be the unrated asset-backed notes (€1.358 billion senior notes and €158.150 million junior notes) issued by Grecale...
Companies mentioned in this report are:
- Atlante Finance S.r.l.
Action: Preliminary 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.