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Ratings Affirmed In Banco Invest's Portuguese RMBS Transaction AR Finance 1 Sep 11 Product Image

Ratings Affirmed In Banco Invest's Portuguese RMBS Transaction AR Finance 1 Sep 11

  • ID: 1924848
  • September 2011
  • Region: Portugal
  • Standard & Poors

Abstract
OVERVIEW Today's rating actions follow our credit and cash flow analysis. Deleveraging in the transaction has led to a significant increase in credit enhancement for the class A notes, and we have subsequently affirmed our rating on the class A notes. The class A notes are capped at 'AA- (sf)' due to Portuguese sovereign risk. We have affirmed our rating on the class B notes due to the continued strong protection provided by the guarantee from the European Investment Fund to class B noteholders. AR Finance 1 securitizes loans originated by Banco Invest. LONDON (Standard & Poor's) Sept. 23, 2011--Standard & Poor's Ratings Services today affirmed its credit ratings on AR Finance 1 PLC's class A and B notes (see...

Companies mentioned in this report are: AR Finance 1 PLC
Action: Affirmed

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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

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AR Finance 1 PLC

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