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Bulletin: Ratings On Libertus MBS Transactions Unaffected By Halt Of New Loan Business
Standard & Poors, June 2008
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
TOKYO (Standard & Poor's) June 6, 2008--Standard & Poor's Ratings Services said today that its ratings on L-STaRS One Funding Ltd.'s (L-STaRS1) and L-STaRS Two Funding Ltd.'s (L-STaRS2) notes would not be affected by Libertus Jutaku Loan K.K.'s (Libertus) announcement of a halt in its new loan business. Libertus acts as the originator and master servicer to L-STaRS1's -11,176,572,459 structured secured notes and L-STaRS2's -30,404,466,391 structured secured notes. On June 2, Libertus announced a halt in its new loan business. Standard & Poor's believes the move will not impact L-STaRS1 and L-STaRS2 because: (1) Capital Servicing Co. Ltd., which acts as both the sub and special servicer for the transactions, handles all of the day-to-day servicing functions; and (2) there...
Companies mentioned in this report are: L-STaRS One Funding Ltd.,L-STaRS Two Funding Ltd.
Action: Bulletin
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