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Bulletin: Ratings On BAA Funding's Corporate Securitization Unaffected After Announcement Of Equity Injection Nov 09
Standard & Poors, Nov 2009
Abstract
OVERVIEW BAA has announced a proposed -500 million equity investment in the BAA Funding securitization structure. Our ratings in the BAA Funding securitization are unaffected. PARIS (Standard & Poor's) Nov. 13, 2009--Standard & Poor's Ratings Services today said that its debt ratings on all classes of notes issued by BAA Funding Ltd. remain unchanged following today's announcement by BAA group of a -500 million equity investment in the securitization structure (-200 million of the injection still needs approval from BAA's controlling shareholders). Our ratings also remain unchanged on the tranche A and B refinancing facility lent to Heathrow Airport Ltd. (HAL), Gatwick Airport Ltd. (GAL), and Stansted Airport Ltd. (STAL) (see list below). We believe the equity injection will marginally...
Companies mentioned in this report are: BAA Funding Ltd.,Heathrow Airport Ltd.
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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