Presale: HERCULES (ECLIPSE 2006-4) PLC Nov 06
- ID: 2029998
- November 2006
- Standard & Poors
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
- Barclays Capital Mortgage Servicing Ltd.
- HERCULES (ECLIPSE 2006-4) PLC
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Research Type: Full Analysis