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Apulia Mortgages Finance N. 3 Class B And C Notes Placed On CreditWatch Positive After Review
Standard & Poors, March 2008
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
MILAN (Standard & Poor's) March 7, 2008-Standard & Poor's Ratings Services said today that it has placed on CreditWatch with positive implications its credit ratings on the class B and C notes issued by Apulia Mortgages Finance N. 3 S.r.l. At the same time, it has affirmed its rating on the class A notes (see list below). The CreditWatch placement follows an initial review of the most recent transaction information. The underlying collateral has performed better than expected and the portfolio risk measures continue to gradually improve. The loan-to-value (LTV) ratio has decreased to 50.08% from 58.35%, and the seasoning has increased to 50.15 months from 13.10 months. 'Our analysis indicates that the class B and C notes may be...
Companies mentioned in this report are: Apulia Mortgages Finance N. 3 S.r.l.
Action: Affirmed
Action: On CreditWatch:Positive
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