PARIS (Standard & Poor's) May 20, 2008Standard & Poor's Ratings Services said today that it has assigned preliminary credit ratings to the floating-rate notes to be issued by FCC Retail ABS Finance Compartiment Noria 2008 (see list below). The originator is Cetelem, one of the leading consumer loan lenders in France. Cetelem is a wholly owned subsidiary of BNP Paribas (AA+/Stable/A-1+). The purpose of the transaction is to securitize a portfolio of consumer, auto, and equipment loans originated in France. This transaction will be similar to the Noria 2005 transaction. The main changes for this transaction are: - The inclusion of auto loans and equipment loans; - The inclusion of a limited bucket of personal loans, which went into an...
Companies mentioned in this report are:
- BNP Paribas
- BNP Paribas Personal Finance
Action: Preliminary Rating
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Research type: News
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