Magnolia Finance I PLC Rating Raised On Series 2005-19; Off Watch Positive

  • ID: 1782882
  • February 2011
  • Standard & Poors
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  • Magnolia Finance I PLC
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Research type: News
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NEW YORK (Standard & Poor's) Feb. 15, 2011--Standard & Poor's Ratings Services today raised its rating on Magnolia Finance I PLC?s $9 million collateralized debt obligation referenced fixed-rate notes series 2005-19 to 'B+' from 'CCC-' and removed it from CreditWatch with positive implications. The rating on the fixed-rate notes is dependent on the lower of our ratings on (i) the interest rate and credit default swap counterparty, Credit Suisse First Boston International (A+), and (ii) the reference obligation, CSAM Funding II?s class D notes due Oct 15, 2019 ('B+ (sf)/NM'). Today's rating action follows the Feb. 8, 2011, raising of our rating on the reference obligation to 'B+ (sf)' and its removal from Creditwatch with positive implications. We may take...

Companies mentioned in this report are: Magnolia Finance I PLC
Action: Upgraded

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Magnolia Finance I PLC

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