Giro Balanced Funding Corp.'s Commercial Paper Rating Affirmed Mar 01
- ID: 1885319
- March 2001
- Standard & Poors
NEW YORK (Standard & Poor's CreditWire) March 7, 2001--Standard & Poor's affirmed its 'A-1' rating on the commercial paper notes of Giro Balanced Funding Corp. (GBFC). The rating action follows GBFC's purchase of $1 billion pool of retail automobile retail installment contracts and receivables. The rating on GBFC's commercial paper program is based on liquidity support from liquidity providers with short-term ratings commensurate with GBFC's 'A-1' rating and sufficient pool-specific credit enhancement, and proper interest rate risk coverage. Sponsored by Bayerische Landesbank Girozentrale, GBFC is a multiseller commercial paper conduit which utilizes structural technologies and correspondent credit enhancement levels developed in partially enhanced asset-backed, loan-backed and security arbitrage commercial paper conduit areas, Standard & Poor's said. -- CreditWire...
Companies mentioned in this report are:
- Bayerische Landesbank
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