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ARCHIVE | Criteria | Structured Finance | ABS: Securitization In Latin America/Emerging Markets: Securitization Of International Telephone Settlement Payments Sep 04
Standard & Poors, Sep 2004
Abstract
In the past year, Standard & Poor's has received a number of inquiries for rating transactions backed by settlement payments between international telephone companies. Standard & Poor's has been engaged to issue ratings on two transactions that are scheduled to close in the first half of 1997. Settlement payments refer to payments made by one telephone company to another in exchange for providing services to complete international calls. If the settlement payments have historically been in favor of one company and are expected to continue, then the company receiving the payments might be able to use the future proceeds as collateral for a medium- to long-term financing through a structured finance securitization transaction. The transaction generally consists of an offshore...
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: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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