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Bulletin: Rating On Italian ABS Deal Jump S.r.l.'s Series 1-2005 And 2-2006 Unaffected Following Acquisition
Standard & Poors, March 2009
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
LONDON (Standard & Poor's) March 6, 2009-Standard & Poor's Ratings Services said today that its credit ratings on the series 1-2005 and series 2-2006 notes issued by Jump S.r.l. remain unaffected following the acquisition of Linea SpA by Compass SpA (see list below). Linea was the originator and servicer of the transactions. We have analyzed the historical performance of the assets originated by Linea and Compass and, in our opinion, considering the amendments to the eligibility criteria mentioned below, the assets show a very similar risk profile. Therefore, we consider that the acquisition has no effect on the ratings we currently assign to these transactions. In April 2005, Linea established the program, under which the issuer periodically purchases portfolios of...
Companies mentioned in this report are: Jump S.r.l.
Action: Bulletin
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