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Rating Assigned To Fourth Issue From BNP Paribas' Covered Bond Program Oct 07 Product Image

Rating Assigned To Fourth Issue From BNP Paribas' Covered Bond Program Oct 07

  • Published: October 2007
  • Standard & Poors

Abstract
PARIS (Standard & Poor's) Oct. 16, 2007Standard & Poor's Ratings Services said today that it assigned its 'AAA' credit rating to the €2 billion fixed-rate notes series 2007-3 issued under BNP Paribas' covered bond program. The program may issue up to €25 billion in total. Under the terms of the program, BNP Paribas Covered Bonds (the issuer) will issue the covered bonds and use the proceeds to fund a credit facility to be made available to BNP Paribas. The advances will match the terms and conditions of the covered bonds to ensure full and timely payment under the covered bonds. If BNP Paribas defaults, the issuer can receive ownership of a pool of residential loans. These assets will secure BNP...

Companies mentioned in this report are:
- BNP Paribas Home Loan Covered Bonds
- BNP Paribas

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 READ MORE >

- BNP Paribas Home Loan Covered Bonds
- BNP Paribas

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