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Cronos Containers Program I Ltd. $200 Million Notes Series 2011-1 Assigned 'A (sf)' Ratings Nov 11
Standard & Poors, November 2011
OVERVIEW Cronos Containers Program I Ltd.'s series 2011-1 issuance is an ABS securitization backed by a $238,711,454 (net book value) portfolio containing 48,246 containers. The issuer has the right to lease revenues from the portfolio and any residual cash flows from the sale of containers. We assigned our 'A (sf)' ratings to the series 2011-1 notes. The 'A (sf)' ratings reflect our view of the transaction's structural enhancement, timely interest and ultimate principal payments, and the manager's experience, among other factors. NEW YORK (Standard & Poor's) Nov. 22, 2011--Standard & Poor's Ratings Services today assigned its 'A (sf)' ratings to Cronos Containers Program I Ltd.'s (the issuer's) $200 million fixed- and floating-rate asset-backed notes series 2011-1 (see list). The note...
Companies mentioned in this report are: Cronos Containers Program I Ltd.
Action: New Rating
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Research type: News
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Cronos Containers Program I Ltd.