Presale: Diversified Strategies CFO S.A. Apr 02

Standard & Poors, April 2002

Abstract
Expected closing date: April 30, 2002. Collateral: The portfolio will consist of shares in the master fund, cash, money market securities, and an interest rate protection instrument for hedging purposes only. Lead manager: Credit Suisse First Boston International ('AA/A-1+'). Master fund: Diversified Strategies Fund II Ltd. Investment and collateral manager: Investcorp Management Services Ltd. Master fund administrator and valuation agent: International Fund Services (Ireland) Ltd. Interest rate cap provider: Credit Suisse First Boston International or another similarly rated counterparty. Trustee: JPMorgan Chase Bank, London branch ('AA-/A-1+'). Agent bank: JPMorgan Chase Bank. The preliminary ratings assigned to Diversified Strategies CFO S.A.'s US$365 million asset-backed floating-rate notes reflect the credit enhancement provided by the subordinated classes; the cash flow structure (which is...

Companies mentioned in this report are:
- JPMorgan Chase & Co.
- Credit Suisse International

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: Full Analysis

- JPMorgan Chase & Co.
- Credit Suisse International

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