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'AAA' Ratings Assigned to Hitachi Credit's Auto Loan Trust Series 5 ?2.53 Bil Certificates Jul 00
Standard & Poors, July 2000
Abstract
TOKYO (Standard & Poor's CreditWire) July 17, 2000--Standard & Poor's today assigned its triple-'A' ratings to Hitachi Credit Corp.'s Auto Loan Trust Series 5 Certificates (see list below). Standard & Poor's ratings address the full and timely payment of interest and the full repayment of principal by the legal final maturity date of October 2005. The -2.53 billion trust certificates are backed by a pool of about -2.60 billion of auto loan receivables originated by Hitachi Credit Corp. (A+/Negative/A-1) and entrusted to Toyo Trust & Banking Co. Ltd. Hitachi Credit is a leading finance company in Japan, and a group company of Hitachi Ltd., an integrated electronics maker in Japan. The ratings on the certificates are based on: -- Overcollateralization...
Companies mentioned in this report are: Hitachi, Ltd.,Hitachi Capital Corp.,UFJ Trust Bank Ltd.
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: 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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