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'A-1' Rating Affirmed on Commercial Paper Issued by FIDEX PLC Jun 99
Standard & Poors, June 1999
Abstract
PARIS (Standard & Poor's CreditWire) June 23, 1999--Standard & Poor's today affirmed its 'A-1' rating on the asset-backed commercial paper issued by FIDEX PLC, a special-purpose vehicle incorporated under U.K. law and set up to provide refinancing for a revolving pool of highly rated debt securities. Repayment of the commercial-paper notes is subject to the performance of the underlying pool of rated securities. The rating refers to timely payment of interest and principal to commercial paper noteholders and is based on: -- The demonstrated ability of the sponsor, Banque Nationale de Paris (BNP; single-'A'-plus/Watch Dev/'A-1'), to manage the program; -- The level of credit enhancement available at the time of each issuance, sized at a level consistent with an 'A-1'...
Companies mentioned in this report are: BNP Paribas
Action: Affirmed
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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