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

  • ID: 1751872
  • September 2006
  • Region: France
  • Standard & Poors
1 of 3


  • Franfinance
  • Societe Generale
  • MORE

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 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.

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- Societe Generale
- Franfinance

Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown




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