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Preliminary Ratings Assigned To Foncaixa FTPYME 2 Spanish ABS Of SME Loans Transaction Nov 08 Product Image

Preliminary Ratings Assigned To Foncaixa FTPYME 2 Spanish ABS Of SME Loans Transaction Nov 08

  • Published: November 2008
  • Standard & Poors

Abstract
MADRID (Standard & Poor's) Nov. 7, 2008-Standard & Poor's Ratings Services has today assigned preliminary credit ratings to the mortgage-backed floating-rate notes issued by Foncaixa FTPYME 2, Fondo de Titulizaci-n de Activos (see list below). This transaction will be the eighth SME transaction to be completed by Caja de Ahorros y Pensiones de Barcelona (La Caixa; AA-/Negative/A-1+) of its loans to SME corporate clients, and the second under the FTPYME program. This securitization will comprise a mixed pool of underlying mortgage-backed and other guarantee assets. The preliminary ratings on the notes reflect the subordination of the respective classes of notes below them, the reserve fund, comfort provided by various other contracts, the rating on La Caixa, and the downgrade language...

Companies mentioned in this report are: Foncaixa FTPYME 2, Fondo de Titulizacion de Activos,Caja de Ahorros y Pensiones de Barcelona
Action: Preliminary Rating

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Foncaixa FTPYME 2, Fondo de Titulizacion de Activos,Caja de Ahorros y Pensiones de Barcelona

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