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New Issue: Semper Finance 2007-1 GmbH Oct 07 Product Image

New Issue: Semper Finance 2007-1 GmbH Oct 07

  • ID: 1872772
  • October 2007
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services assigned credit ratings to the €994.2 million floating-rate credit-linked notes issued by Semper Finance 2007-1 GmbH, an SPE incorporated in the Federal Republic of Germany. This transaction is structured as a synthetic, fully funded CMBS transaction. Its purpose is to transfer the credit risk associated with a pool of 492 small mortgage loans (each a reference claim and together the reference pool) secured predominately on commercial properties in Germany. All loans in the reference pool were originated by Eurohypo AG or its predecessors. The reference pool has a principal balance outstanding at cutoff of €1,001.9 million and is secured by one or more first-ranking or subordinated mortgages. In total, there are €144.2 million of claims...

Companies mentioned in this report are:
- Hypothekenbank Frankfurt AG

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

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