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'AAA' Rating Assigned To BBVA's Synthetic Repack CID Finance B.V. Series 3 Jul 05
Standard & Poors, July 2005
Abstract
LONDON (Standard & Poor's) July 29, 2005-Standard & Poor's Ratings Services said today that it assigned its 'AAA' credit rating to the -3 million variable-rate secured limited-recourse notes series 3 issued by CID Finance B.V., an SPE incorporated in The Netherlands in August 2004. The issuer meets Standard & Poor's SPE bankruptcy-remote criteria. The variable-rate secured limited-recourse notes is the third series issued by CID Finance under its -5 billion program. Banco Bilbao Vizcaya Argentaria S.A. (BBVA; AA-/Stable/A-1+) established the program for the issuance of notes and the making of alternative investments. Standard & Poor's reviewed the program in October 2004. In this transaction, arranged by BBVA, CID Finance issued -3 million notes at par and used the proceeds of...
Companies mentioned in this report are: CID Finance B.V.,Banco Bilbao Vizcaya Argentaria S.A.
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 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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