New Issue: Quarzo Lease S.r.l. Aug 11
Standard & Poors, August 2011
Abstract
Standard & Poor's Ratings Services has assigned its 'AAA (sf)' credit rating to the €202 million class A asset-backed floating-rate notes issued by Quarzo Lease S.r.l., an Italian multi-issue special-purpose entity (SPE). At the same time, Quarzo Lease issued €123.1 million class B unrated notes. The notes are backed by a revolving portfolio of lease receivables, split into four pools depending on the underlying asset (vehicles, equipment, real estate, and nautical). The originator, SelmaBipiemme SpA, is the leasing company of the Mediobanca banking group, of which it is an indirectly owned subsidiary. This is the fourth transaction it has originated that we have rated. The previous series issued by Quarzo Lease were in 2002, 2007, and 2009. Like in previous...
Companies mentioned in this report are:
- Quarzo Lease S.r.l.
- Deutsche Bank AG
- Mediobanca SpA
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: Full Analysis
- Quarzo Lease S.r.l.
- Deutsche Bank AG
- Mediobanca SpA
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