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Preliminary Ratings Assigned In Avoca Capita's Sixth Leveraged Loan CLO Transaction
Standard & Poors, October 2006
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.
LONDON (Standard & Poor's) Oct. 5, 2006-Standard & Poor's Ratings Services said today that it assigned its preliminary credit ratings to the -470.25 million floating-rate notes to be issued by Avoca CLO VI PLC, an SPE. At the same time, Avoca CLO VI will issue unrated notes totaling -37.7 million (see list below). The transaction will be managed by Avoca Capital Holdings. It will be Avoca Capital's sixth leveraged loan CLO, following Avoca CLO V PLC, which closed in June 2006. The collateral portfolio will consist of senior and mezzanine loans, and high-yield bonds. Avoca CLO VI is a bankruptcy-remote private company with limited liability, which was incorporated in 2006 under the laws of Ireland. Its only purposes are to...
Companies mentioned in this report are: Avoca CLO VI PLC
Action: Preliminary Rating
Avoca CLO VI PLC