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Ratings On Class B And C Notes In European Property Capital 3 PLC Put On CreditWatch Positive Sep 06 Product Image

Ratings On Class B And C Notes In European Property Capital 3 PLC Put On CreditWatch Positive Sep 06

  • Published: September 2006
  • Region: Europe
  • Standard & Poors

Abstract
LONDON (Standard & Poor's) Sept. 1, 2006Standard & Poor's Ratings Services said today that it placed on CreditWatch with positive implications its credit ratings on the class B and C notes issued by European Property Capital 3 PLC (see list below). The CreditWatch placement follows an initial review of the most recent transaction information received by Standard & Poor's. This analysis showed that the likelihood of a positive rating action has increased due to the prepayment of the Italian loan and the Alliance loan (26.4% and 20.9% of the closing portfolio balance, respectively) at the August interest payment date. The proceeds of the Alliance loan were applied 50% sequentially and 50% pro rata in accordance with the redemption profile of...

Companies mentioned in this report are:
- European Property Capital 3 PLC

Action: On CreditWatch:Positive

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 READ MORE >

- European Property Capital 3 PLC

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