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Preliminary Ratings Assigned In Meliorbanca's Italian RMBS Transaction Nov 05 Product Image

Preliminary Ratings Assigned In Meliorbanca's Italian RMBS Transaction Nov 05

  • ID: 1871731
  • November 2005
  • Region: Italy
  • Standard & Poors

Abstract
MILAN (Standard & Poor's) Nov. 30, 2005Standard & Poor's Ratings Services said today that it assigned its preliminary credit ratings to the €890.9 million asset-backed floating-rate notes (series 3) to be issued by Sestante Finance S.r.l., an SPE (see list below). This is the third transaction backed by a pool of mortgage loans originated by Meliorbanca SpA and secured over residential properties in Italy. The first closed in December 2003 and the second in December 2004. Sestante Finance will issue five classes of notes: four rated and one unrated. The class A, B, C1, and C2 notes will pay a floating interest rate. The C2 class is an interest-only class: both interest and principal will be paid using the excess...

Companies mentioned in this report are:
- Sestante Finance S.r.l.

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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