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Bulletin: Ratings Unchanged On Four ABN AMRO Bank Dutch ABS/RMBS Transactions After Demerger Feb 10
Standard & Poors, Feb 2010
Abstract
OVERVIEW Following ABN AMRO Bank's demerger, the Shield 1, Smile 2001, 2005, and 2007 transactions' ratings remain unaffected. Shield 1 is a synthetic transaction backed by prime Dutch mortgage loans, Smile 2001 and Smile 2007 are cash transactions backed by loans to Dutch SMEs, and Smile 2005 is a synthetic deal backed by loans to Dutch SMEs. LONDON (Standard & Poor's) Feb. 9, 2010--Standard & Poor's Ratings Services said today that the credit ratings in the Shield 1 B.V., SMILE Securitisation Company 2001 B.V., Smile 2005 Synthetic B.V., and SMILE Securitisation Company 2007 B.V. transactions remain unchanged following the demerger of ABN AMRO Bank N.V., one of their key counterparties. ABN AMRO Bank N.V. demerged into two separate entities, with...
Companies mentioned in this report are: ABN AMRO Bank N.V.,SMILE Securitisation Company 2001 B.V.,Smile 2005 Synthetic B.V.,Shield 1 B.V.,SMILE Securitisation Company 2007 B.V.
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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