New Issue: Radamantis (European Loan Conduit No. 24) PLC
Standard & Poors, September 2006
Abstract
Credit ratings were assigned to the -493.525 million commercial mortgage-backed floating-rate notes issued by Radamantis (European Loan Conduit No. 24) PLC, an SPE incorporated in England and Wales. On the closing date, the issuer issued the notes and used the proceeds to acquire a portfolio of four commercial mortgage loans originated by Morgan Stanley Bank International Ltd. The four loans are secured on four properties in London and Greater London. Three of the loans have subordinated debt in the form of B-notes that do not form part of the securitization. The relationship between the senior lenders and the subordinated lenders is governed by intercreditor deeds, entered into at closing. The transaction is the 24th in the ELOC series originated and...
Companies mentioned in this report are: Radamantis (European Loan Conduit No. 24) PLC,Morgan Stanley Mortgage Servicing Ltd.,Morgan Stanley Bank International Limited
Action: New Rating
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
Radamantis (European Loan Conduit No. 24) PLC,Morgan Stanley Mortgage Servicing Ltd.,Morgan Stanley Bank International Limited
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