New Issue: Red Arrow International Leasing PLC Apr 06
Standard & Poors, April 2006
Abstract
A 'BBB-' credit rating has been assigned to the RUR12,570 million secured fixed-rate notes (class A notes) issued by Red Arrow International Leasing PLC (RAIL), an Irish SPE. To Standard & Poor's knowledge, this was the first lease-backed transaction out of The Russian Federation to be assigned a preliminary rating. The class B and C notes issued by RAIL were not be rated. The proceeds from the issuance were used to finance a loan, a participation note, and expenditures to a second SPE, Red Arrow Leasing S.-.r.l. (RAL), incorporated in Luxembourg with a branch in Moscow. RAL used the cash received to purchase the rolling stock and the lease contracts that the leasing companies Magistral Finance, Investment Partner, and FC...
Companies mentioned in this report are: Red Arrow International Leasing PLC,Morgan Stanley,TransCreditBank
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: Full Analysis
Red Arrow International Leasing PLC,Morgan Stanley,TransCreditBank
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