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Bulletin: Eurostat Decision On Securitization Receipts Has No Impact On EU Sovereign Ratings Jun 07
Standard & Poors, June 2007
Abstract
LONDON (Standard & Poor's) June 29, 2007--Standard & Poor's Ratings Services said today that the Eurostat decision taken on June 25, 2007, to classify EU member state receipts from securitization operations as having the characteristics of borrowing will have no ratings impact for affected sovereigns. Standard & Poor's has recorded such one-off receipts below the line as financing items since 2002 (see 'Accounting for Innovation: Treatment of Off-Balance-Sheet Public Sector Financing Operations,' published by Standard & Poor's on Sept, 23, 2002, on RatingsDirect, the real-time Web-based source for Standard & Poor's credit ratings, research, and risk analysis at wwww.ratingsdirect.com). Eurostat is to apply this practice to all operations concluded after Jan. 1, 2007. It will not be revising the historical...
Action: Bulletin
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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