New Issue: Guercino Solutions S.r.l. Nov 08
- ID: 1723370
- November 2008
- Standard & Poors
Standard & Poor's Ratings Services has assigned credit ratings to the €278.75 million asset-backed floating-rate notes issued by Guercino Solutions S.r.l., a mortgage transaction ultimately backed by a pool of mortgage loans secured over residential properties in Italy. At the same time, Guercino Solutions issued €5.7 million unrated notes. The originator in this transaction is Cassa di Risparmio di Cento SpA (CariCento), a small bank whose main shareholders are local not-for-profit foundations. CariCento's banking activity dates back to 1844, and in 1991 the foundation split its mutual arm from the banking business, creating the Fondazione Cassa di Risparmio di Cento (the foundation) and Cassa di Risparmio di Cento SpA. The foundation arm promotes citizens' education and health, philanthropy, social housing,...
Companies mentioned in this report are:
- Guercino Solutions S.r.l.
- Cassa di Risparmio di Cento SpA
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: Full Analysis