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Banco do Brasil Dollar Diversified Payment Rights Finance Co. Series 2003-2 Assigned Rating Dec 03
Standard & Poors, Dec 2003
Abstract
NEW YORK (Standard & Poor's) Dec. 19, 2003--Standard & Poor's Ratings Services today assigned its 'BBB' rating to Dollar Diversified Payment Rights Finance Co.'s US$250.00 million 6.55% notes series 2003-2. The transaction's underlying assets are dollar-denominated diversified payment orders generated by Banco do Brasil (BdB), a Brazilian bank. This is the fifth series issued by BdB through this vehicle, which will amount to a total outstanding debt of US$1.16 billion. The rating reflects adequate credit enhancement levels, the transaction's structure, and the ability to pay timely interest and principal on the notes at the 'BBB' rating level of risk. For an electronic money transfer type of transaction, the rating is usually constrained by the local currency rating of the financial...
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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