Preliminary Ratings Assigned in RBS's Synthetic CDO of ABS Transaction Nov 04
- ID: 2026550
- November 2004
- Standard & Poors
LONDON (Standard & Poor's) Nov. 19, 2004Standard & Poor's Ratings Services said today that it assigned its preliminary credit ratings to the secured floating-rate credit-linked notes to be issued by Lunar Funding V Ltd. (Menton CDO I) (see list below). The asset structure comprises a series of portfolio credit default swaps, written on U.S. dollar-denominated CDOs and ABS. The liability structure combines a funded element covering 10% of the portfolio and an unfunded element, which covers the remaining 90%. The note proceeds will be invested initially in a GIC account and may be invested in other eligible investments subject to their being rated either 'A-1+' or 'AAA' by Standard & Poor's. During the transaction, the amounts in the GIC or...
Companies mentioned in this report are:
- Lunar Funding V PLC
- The Royal Bank of Scotland PLC
Action: Preliminary Rating
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Research type: News
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