RBS Insurance Trust Series 2011 Notes Rated 'AA/A-1+' Nov 11
Standard & Poors, November 2011
Abstract
NEW YORK (Standard & Poor's) Nov. 17, 2011--Standard & Poor's Ratings Services assigned its 'AA/A-1+' rating to RBS Insurance Trust's (the issuer's) taxable variable-rate notes series 2011. The rating reflects our opinion of the credit and liquidity support that Wells Fargo Bank N.A. ('AA/A-1+') provides in the form of an irrevocable direct-pay letter of credit (LOC). Under the LOC, Wells Fargo Bank N.A. fully supports all note payments obligations. The 'AA' long-term component of our rating is based on our long-term issuer credit rating on Wells Fargo Bank N.A. and addresses full and timely payments of interest and principal when the noteholders have not exercised the put option. The 'A-1+' short-term component of our rating is based on our short-term...
Companies mentioned in this report are: RBS Insurance Trust
Action: New 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.
RBS Insurance Trust
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