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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

  • ID: 1781843
  • 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 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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