NEW YORK (Standard & Poor's CreditWire) July 17, 2001-- Standard & Poor's today assigned its preliminary triple-'B'-plus rating to Nikkei Remittance Trust's US$250 million fixed-rate certificates series 2001-1 due August 2006. The preliminary rating is based on information as of July 17, 2001. Subsequent information may result in the assignment of a final rating that differs from the preliminary rating. The preliminary rating on Nikkei Remittance Trust's series 2001-1 certificates reflects the strong credit enhancement levels and the transaction's structure. Nikkei Remittance Trust represents the first financial future flow transaction rated by Standard & Poor's in Brazil and Japan. For a worker-remittance type of transaction, the rating is usually constrained by the local currency rating of the financial institution involved...
Companies mentioned in this report are:
- Japan (Unsolicited Ratings)
- Banco do Brasil S.A
Action: New Rating
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Research type: News
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