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Bulletin: Ratings Unchanged In Epic (Brodie) PLC Despite Potential Prepayments
Standard & Poors, July 2007
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.
Abstract
LONDON (Standard & Poor's) July 2, 2007-Standard & Poor's Ratings Services said today that there are no rating changes in the Epic (Brodie) PLC transaction following the announcement by The Royal Bank of Scotland that the La Roca and Las Rozas loans in the transaction are potentially being prepaid. The two reference obligations (La Roca and Las Rozas) in Epic (Brodie) may potentially become part of the Epic (Value Retail) Ltd. transaction. The potential prepayments will leave the pool relatively weaker but this will be offset by the senior debt being repaid. Therefore, no rating action will be taken if the reference obligations are prepaid. The notes were issued in June 2006 and are currently backed by five loans. The...
Companies mentioned in this report are: Epic (Brodie) PLC,Epic (Value Retail) Ltd.
Action: Bulletin
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