New Issue: Candide Financing 2008-2 B.V. Nov 08
Standard & Poors, November 2008
Abstract
Standard & Poor's Ratings Services has assigned credit ratings to the -1.27 billion residential mortgage-backed floating-rate notes issued by Candide Financing 2008-2 B.V. Candide 2008-2 also issued -12.7 million of unrated class C notes to fund the reserve fund. This is Bank of Scotland PLC's fourth securitization of Dutch mortgages that we have rated. The Amsterdam branch of the Bank of Scotland was established in 1999 to provide residential mortgage services to Dutch consumers. As of July 2008, it had a portfolio of about -8.6 billion. The collateral is a mortgage loan pool secured by first-ranking or first- and sequentially lower-ranking mortgages over residential properties in The Netherlands. The structure closely follows the previous Candide Financing 2008 issuance. The Candide...
Companies mentioned in this report are: Candide Financing 2008-2 B.V.,Bank of Scotland PLC
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
Candide Financing 2008-2 B.V.,Bank of Scotland PLC
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