New Issue: ELIDE FCC Compartiment 2011-01
- ID: 1783817
- May 2011
- Standard & Poors
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: Full Analysis
Standard & Poor's Ratings Services has assigned 'AAA (sf)' credit ratings to ELIDE FCC Compartiment 2011-01's senior class A1 and A2 floating-rate notes. ELIDE FCC Compartiment 2011-01 is a new compartment of the French "fonds commun de cr-ances" (FCC), ELIDE. The originator of the transaction is BRED - Banque Populaire (A+/Stable/A-1), which is part of the second-largest retail banking group in France, the BPCE group. This originator has previously executed private and public cash and synthetic securitizations. Our 'AAA (sf)' ratings on the class A1 and A2 notes reflect our assessment of the credit and cash flow characteristics of the underlying asset pool, as well as our analysis of the counterparty and operational risks of the transaction. Our analysis indicates...
Companies mentioned in this report are: ELIDE FCC Compartiment 2011-01
Action: New Rating