Preliminary Ratings Assigned In Meliorbanca's Italian RMBS Transaction Nov 05
- ID: 1871731
- November 2005
- Region: Italy
- Standard & Poors
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
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Research type: News
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