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
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Research Type: Full Analysis