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Preliminary Ratings Assigned To Red & Black Consumer 2006-1 French ABS Sep 06 Product Image

Preliminary Ratings Assigned To Red & Black Consumer 2006-1 French ABS Sep 06

  • Published: September 2006
  • Region: France
  • Standard & Poors

FEATURED COMPANIES

  • Franfinance
  • Societe Generale
  • MORE

Abstract
PARIS (Standard & Poor's) Sept. 8, 2006Standard & Poor's Ratings Services said today that it assigned its preliminary credit ratings to the euro-denominated floating-rate notes to be issued by Red & Black Consumer 2006-1 PLC, an SPE (see list below). The reference portfolio comprises fixed-rate unsecured consumer loans originated by Franfinance and sold in France to individuals in the Société Générale (AA-/Positive/A-1+) retail network. Franfinance is a subsidiary of Société Générale. The purpose of this transaction is to transfer to investors the credit risk of the reference portfolio. The portfolio is extremely granular. The initial pool comprises 443,385 loans of an average outstanding amount of €7,893 per loan. The full presale report for this transaction was published today and is...

Companies mentioned in this report are:
- Societe Generale
- Franfinance

Action: Downgraded
Action: Preliminary Rating

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured READ MORE >

- Societe Generale
- Franfinance

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