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Banco do Brasil's Dollar Diversified Payment Rights Finance Co. Series 2002-2 Assigned Rating Sep 02
Standard & Poors, Sep 2002
Abstract
NEW YORK (Standard & Poor's) Sept. 11, 2002--Standard & Poor's Ratings Services today assigned its triple-'B' rating to Dollar Diversified Payment Rights Finance Co.'s US$40 million fixed-rate notes series 2002-2. Payment rights are generated by Banco do Brasil S.A (BdB). This is the third series issued by BdB, in which it securitizes its diversified payment rights (DPRs) in the form of dollar-denominated payment orders to serve as collateral for the transaction. The rating reflects adequate credit enhancement levels, as well as the transaction's structure and ability to pay timely interest and principal on the certificates. For an electronic money transfer type of transaction, the rating is usually constrained by the local currency rating of the financial institution involved in remitting...
Companies mentioned in this report are: Dollar Diversified Payment Rights Finance Company (Banco do Brasil ),Banco do Brasil S.A
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.
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