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New Issue: Lunar Funding V PLC (Series 2010-74) Jun 10 Product Image

New Issue: Lunar Funding V PLC (Series 2010-74) Jun 10

  • ID: 1820247
  • June 2010
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services has assigned its 'AAA' credit rating to Lunar Funding V PLC's €6,973,509 limited recourse secured asset-backed notes series 2010-74. Lunar V is a public company with limited liability incorporated under the laws of Ireland. In our opinion, Lunar V meets our special-purpose entity bankruptcy-remoteness and segregation criteria. At closing, Lunar V issued €6,973,509 of notes at an issue price of 85.60% of the notes' par value. At the same time, Lunar V entered into a swap with The Royal Bank of Scotland PLC (RBS). It used the €5,969,324 issuance proceeds, along with an initial exchange amount of €1,115,185 paid by the swap counterparty under the swap, to pay the closing expenses and to purchase the...

Companies mentioned in this report are:
- Lunar Funding V 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

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