Preliminary Rating Assigned in Royal Bank of Canada's Tribune CDO Transaction Aug 03
- ID: 1754740
- August 2003
- Region: Canada
- Standard & Poors
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
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Research type: News
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