Presale: HERCULES (ECLIPSE 2006-4) PLC Nov 06
Standard & Poors, November 2006
Abstract
Standard & Poor's Ratings Services has assigned preliminary credit ratings to the £814.950 million commercial mortgage-backed floating-rate notes to be issued by HERCULES (ECLIPSE 2006-4) PLC, an SPE incorporated in England. At closing, the issuer will use the proceeds from the notes to purchase a pool of seven loans. All the loans have been originated by Barclays Bank PLC (Barclays), apart from the Ashbourne loan, which was originated by The Royal Bank of Scotland PLC (RBS). The loans are secured on 175 commercial properties in England, Northern Ireland, Scotland, and Wales. Three of the Barclays loans (River Court, Cannon Bridge, and Booker Portfolio) include fully subordinated junior pieces that do not form part of this securitization. The Ashbourne portfolio loan...
Companies mentioned in this report are:
- Barclays Bank PLC
- HERCULES (ECLIPSE 2006-4) PLC
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: Full Analysis
- Barclays Bank PLC
- HERCULES (ECLIPSE 2006-4) PLC
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