OVERVIEW We assigned ratings to the 15th issuance under BNP Paribas' up to €25 billion home loan covered bond program. The bonds are backed by a French portfolio owned by BNP Paribas of first-lien mortgages or residential loans guaranteed by Crédit Logement PARIS (Standard & Poor's) July 23, 2009Standard & Poor's Ratings Services today assigned its 'AAA' credit rating to the €1.25 billion fixed-rate covered bonds series 15 issued under BNP Paribas Home Loan covered bond program. The program may issue up to €25 billion in total. Under the terms of the program, BNP Paribas Home Loan Covered Bonds (the issuer) issued the covered bonds and used the proceeds to fund a credit facility to be made available to BNP...
Companies mentioned in this report are:
- BNP Paribas
Action: New Rating
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Research type: News
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