- Language: English
- 118 Pages
- Published: August 2011
- Region: Europe
Presale: Dutch MBS XV B.V. Mar 10
- Published: March 2010
- Standard & Poors
Standard & Poor's Ratings Services has assigned preliminary credit ratings to Dutch MBS XV B.V.'s -746.25 million floating-rate mortgage-backed notes. At the same time, Dutch MBS XV B.V. will issue -3.75 million floating-rate unrated notes. The 17 sellers are wholly owned subsidiaries of NIBC Bank N.V. (NIBC), a Dutch merchant and corporate bank focused on mid-cap corporates in the Benelux and mortgage originations in The Netherlands and Germany. We currently rate NIBC BBB/Negative/A-2, reflecting our view of its capital base, management strategy, niche position in Benelux corporate banking, and profitability track record. Mortgage lending at NIBC commenced in 1996, and through a series of selective purchases of mortgage books, its gross book value is -10 billion. NIBC originates mortgages through...
Companies mentioned in this report are: NIBC Bank N.V.,Dutch MBS XV B.V.
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
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NIBC Bank N.V.,Dutch MBS XV B.V.
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