Research Update: Deutsche Bank And Four Core Subsidiaries Affirmed At ?A+/A-1? On Bank Criteria Change; Outlook Revised To Negative Nov 11
- Language: English
- Published: November 2011
LONDON (Standard & Poor's) Dec. 1, 2005-Standard & Poor's Ratings Services said today that it assigned its 'A-1' credit rating to the $20 billion European and U.S. 4(2) ABCP program issued by Ebbets Funding PLC and Ebbets Funding LLC, issuer and co-issuer, respectively. Ebbets is sponsored by the New York-based Hudson Castle Group Inc. The rating is based on: - Ebbets Funding PLC's legal structure, which is intended to be bankruptcy remote; - Transaction and program-level hedging arrangements with counterparties similarly rated to the program, which will address currency and interest rate risks; - Liquidity support provided by banks and financial institution rated at least 'A-1'; - Each asset being explicitly rated or credit-enhanced to at least the 'A-1' rating...
Companies mentioned in this report are: Deutsche Bank Trust Company Americas
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
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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Deutsche Bank Trust Company Americas