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New Issue: PTCL Receivables Master Trust Sep 97
Standard & Poors, Sep 1997
Abstract
NEW RATING CREDIT PROFILE NEW RATING PTCL Receivables Master Trust PTCL 1997 Receivables Trust certs BBB- Sale date: Aug. 14, 1997 Securities offered: $250 million in investor certificates backed by international telephone settlement payments Maturity: Aug. 14, 2003 Collateral: International telephone settlement payment due from companies in the U.S., U.K. and Germany Legal structure: Certificates issued by PTCL Receivables Trust, a U.S. master trust Interest: 8.42% fixed, payable quarterly Credit enhancement: Overcollaterization, reserve account, and an LOC to cover collection delays Seller : Pakistan Telecommunication Co. Ltd., the national telephone company majority owned by the Islamic Republic of Pakistan ('B+') Carriers: American Telephone and Telegraph Co., MCI International Inc., Sprint Communication Co. Ltd., British Telecom PLC, Mercury Telecommunications Ltd., and...
Companies mentioned in this report are: Pakistan Mobile Communications Ltd.
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: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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