NEW YORK (Standard & Poor's) Sept. 5, 2008--Standard & Poor's Ratings Services today assigned its 'A-' rating to Dollar Diversified Payment Rights Finance Co. 's (Banco do Brasil) US$200 million floating-rate notes series 2008-3. The rating reflects Standard & Poor's survivability assessment of Banco do Brasil S.A. (BdB), which addresses the bank's ability to generate the necessary assets to service the transaction even under a state of selective default or other financial impairment. The rating also reflects the strong credit enhancement levels through overcollateralization and structural features that mitigate sovereign interference risk and other credit risks. The transaction is a securitization through a true sale of all current and future diversified payment rights (DPRs) in the form of U.S. dollar-denominated...
Companies mentioned in this report are:
- Dollar Diversified Payment Rights Finance Company (Banco do Brasil )
- Brazil (Federative Republic of)
- Banco do Brasil S.A
Action: New Rating
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Research type: News
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