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'A+' Rating Assigned To Proposed Bond Issue From T.H.F.C. (Funding No. 3) PLC Oct 11
Standard & Poors, Oct 2011
Abstract
Standard & Poor's has assigned an 'A+' rating to the proposed issue of bonds from T.H.F.C. (Funding No 3) PLC, a special-purpose entity. The proceeds of the issue are expected to be lent to The Housing Finance Corp. Ltd. (THFC), which will be responsible for servicing the loan; as such, the issuer is dependent on receipts from THFC to service the bond. The 'THFC-issuer' loan ranks pari passu with all other loans made to THFC and hence the rating on the issue is equalized with the rating on THFC. LONDON (Standard & Poor's) Oct. 5, 2011--Standard & Poor's Ratings Services said today it has assigned an 'A+' secured debt rating to the proposed -100 million bonds (including -30 million of...
Companies mentioned in this report are: T.H.F.C (Funding No. 3) PLC,The Housing Finance Corp. Ltd.
Action: Preliminary 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: 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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