PARIS (Standard & Poor's) Aug. 28, 2003--Standard & Poor's Ratings Services said today that it assigned its 'AA' preliminary credit rating to the $2 million floating-rate credit-linked secured notes, series 9 (Maple 2003-4 B Tranche) to be issued by Tribune Ltd., an SPE. The purpose of this transaction, which is being arranged by Royal Bank of Canada Europe Ltd., is to transfer the credit risk associated with a basket of corporate names valued at par $8 billion from Royal Bank of Canada to external parties for up to five years. The issuer has been incorporated for the purpose of issuing MTNs and will apply the proceeds of the notes to purchase 'AAA' rated eligible securities. The rating reflects: -- The...
Companies mentioned in this report are:
- Tribune Ltd.
- Royal Bank of Canada
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: News
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