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Funding Agreement-Backed Note Issuance Totals $11.65 Billion For First Quarter of 2007 Apr 07 Product Image

Funding Agreement-Backed Note Issuance Totals $11.65 Billion For First Quarter of 2007 Apr 07

  • Published: April 2007
  • Standard & Poors

Standard & Poor's Ratings Services rated $11.65 billion of funding agreement-backed notes in the first quarter of 2007. This total constitutes an increase of 36% versus the fourth-quarter of 2006, and 50% versus the first quarter of 2006, respectively. The $11.65 billion that was issued this past quarter is the third-highest quarterly total ever, surpassed only by the $11.83 billion issued in first-quarter 2005 and the $11.71 billion issued in second-quarter 2004 (see Chart 1). First-quarter 2007 also saw the highest monthly total of rated issuance when, in January, Standard & Poor's rated $6.17 billion in funding agreement backed notes. This brings the total funding agreement/guaranteed investment contract-backed medium-term note and certificate issuance rated by Standard & Poor's since 1997...

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 READ MORE >

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