- Language: English
- 47 Pages
- Published: April 2012
- Region: United Kingdom
Bulletin: Ratings On Softbank Corp. And WBS-Related Deals Unaffected By Possible Extraordinary Losses Oct 08
- Published: October 2008
- Standard & Poors
TOKYO (Standard & Poor's) Oct. 30, 2008--Standard & Poor's Ratings Services said today that its ratings on Softbank Corp. (BB/Stable/--), the whole business securitization (WBS) deal that its subsidiary Softbank Mobile Corp. (SBM; NR) implemented in 2006, and other WBS-related transactions, would not be affected by the company's announcement that SBM could incur extraordinary losses of up to ¥75 billion by September 2010. On Oct. 29, 2008, Softbank Corp. announced that SBM might suffer extraordinary losses of up to ¥75 billion due to a deterioration in the quality of entrusted assets managed through Collateralized Debt Obligations (CDOs), in a trust debt assumption executed by SBM in 2006. Standard & Poor's believes that such losses, if they materialize, should be covered...
Companies mentioned in this report are:
- Softbank Corp.
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- Softbank Corp.