FRANKFURT (Standard & Poor's) Jan. 29, 2004--Standard & Poor's Ratings Services said today it assigned its preliminary credit ratings to the €374.75 million credit-linked notes to be issued by Provide-A 2004-1 PLC (see list below). This synthetic RMBS transaction is structured under Germany's Provide program, which was set up by Kreditanstalt für Wiederaufbau (KfW) to provide a standardized platform for use by German banks to transfer the credit-risk exposure on residential mortgage loans to the capital markets. In Provide-A 2004-1, the risk associated with a €3.5 billion initial reference pool of residential mortgage loans that were originated by Bayerische Hypo- und Vereinsbank AG (HVB) will be transferred to investors through the issuance of the classes of credit-linked notes. The portfolio...
Companies mentioned in this report are:
- UniCredit Bank AG
Action: New Rating
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Research type: News
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