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Bulletin: Purchase Of Notes By Cavendish Square Funding PLC Feb 09
Standard & Poors, Feb 2009
Abstract
LONDON (Standard & Poor's) Feb. 10, 2009-Standard & Poor's Ratings Services has confirmed that, based on the information it has received, the purchase and cancellation by the issuer of -4 million class A1-N notes will not result in a lowering or withdrawal of the 'AAA' rating on the outstanding notes issued by Cavendish Square Funding PLC. On Jan. 28, 2009, the issuer repurchased in a privately negotiated transaction a notional of -4 million out of an aggregate principal balance of -198.1 million of the class A1-N notes, which it subsequently cancelled. This was done under Condition 7(h) of Cavendish's prospectus dated Jan. 31, 2006. The notes were purchased at discount to par plus accrued interest and were entirely funded by...
Companies mentioned in this report are: Cavendish Square Funding PLC
Action: Bulletin
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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