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'AAA' Preliminary Rating Assigned To BBVA's Cash Single-Asset Repack CID Finance Series 5 Oct 05
Standard & Poors, Oct 2005
Abstract
MADRID (Standard & Poor's) Oct. 27, 2005-Standard & Poor's Ratings Services said today that it assigned a preliminary credit rating to the -120 million variable-rate secured limited-recourse notes series 5 to be issued by CID Finance B.V. (see list below). In this transaction, arranged by Banco Bilbao Vizcaya Argentaria, S.A. (BBVA), CID Finance will issue -120 million notes at par and use the proceeds of the notes to purchase -120 million senior unsecured 'AAA/Negative' rated notes issued by Bayerische Landesbank as collateral for the repayment of the principal on the notes. The notes will be secured over the collateral and agreements specified under the terms of the notes. There could be additional issuances of up to -300 million under series...
Companies mentioned in this report are: CID Finance B.V.,Banco Bilbao Vizcaya Argentaria S.A.
Action: Preliminary 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 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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