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Presale: Sapphire Series 2002-2 Trust Nov 02 Product Image

Presale: Sapphire Series 2002-2 Trust Nov 02

  • ID: 1924519
  • November 2002
  • Standard & Poors

FEATURED COMPANIES

  • Barclays Bank PLC
  • Nomura International PLC
  • Westpac Banking Corp.
  • MORE

Abstract
Expected closing date: Nov. 18, 2002. Collateral: Fully amortizing Australian dollar loans to nonconforming and subprime Australian resident borrowers secured by first-registered mortgages over Australian residential property. The loans mature no later than one year before final maturity of the notes. Loan originator, special servicer, trust manager, and basis swap provider: Bluestone Group Pty. Ltd. (and subsidiaries). Seller: Permanent Custodians Ltd. ATF Phoenix Series 1 Warehouse Trust and Bluestone Warehouse Trust. Servicer and standby special servicer: Australian Mortgage Securities Ltd. Issuer trustee: Permanent Custodians Ltd. Security trustee: Permanent Registry Ltd. Custodian: Permanent Custodian Ltd. Liquidity facility provider and redraw facility provider: Barclays Bank PLC (AA/Stable/A-1+). Currency swap, interest rate swap, and reserve account provider: Westpac Banking Corp. (AA-/Stable/A-1+). Arranger and...

Companies mentioned in this report are:
- Westpac Banking Corp.
- Barclays Bank PLC
- Nomura International PLC
- Australian Mortgage Securities Ltd.
- Sapphire Series 2002-2 Trust

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

- Westpac Banking Corp.
- Barclays Bank PLC
- Nomura International PLC
- Australian Mortgage Securities Ltd.
- Sapphire Series 2002-2 Trust

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