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Bulletin: Rating Unchanged On Solitaire Funding Ltd. CP Program After Structural Changes Jan 08
Standard & Poors, Jan 2008
Abstract
LONDON (Standard & Poor's) Jan. 30, 2008-Standard & Poor's Ratings Services said today that following structural changes in Solitaire Funding Ltd., there is no change to the 'A-1+' rating on that CP program. On Jan. 25, 2008, the following amendments were made to the Solitaire ABCP program: - A repo funding capability was added, whereby Solitaire's purchasing company and HSBC Bank PLC (as repo buyer) can enter into repurchase transactions (repos) under a TBMA/ISMA global master repurchase agreement. This repo funding capability was introduced to provide liquidity to Solitaire. No margin or haircut will be applied to the underlying securities sold under the repo agreements. - HSBC provided an additional letter of credit (LOC No. 2) to Solitaire for an...
Companies mentioned in this report are: Solitaire Funding Ltd.,HSBC Bank PLC
Action: Bulletin
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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