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Bulletin: Ratings On Softbank Corp. And WBS-Related Deals Unaffected By Possible Extraordinary Losses
Standard & Poors
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.
Abstract
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: WBS Funding Co.,Softbank Corp.,J-WBS Funding KK,Softbank Mobile Lease And Loan Receivables Securitization,ORIX-SBM Trust 1,DW Finance Ltd.,Softbank Mobile Lease And Loan Receivables Securitization Trust Certificates and ABL Series1,Softbank Mobile Lease And Loan Receivables Securitization Trust Certificates and ABL Series 2
Action: Bulletin
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