Research And Markets Research And Markets

Rating Affirmed on Notes in Xelo PLC CDO; Off Watch Dec 03

  • ID: 2030131
  • December 2003
  • Standard & Poors
1 of 3


  • Barclays Bank PLC
  • Xelo PLC
  • MORE

LONDON (Standard & Poor's) Dec. 18, 2003--Standard & Poor's Ratings Services said today it affirmed its credit rating on one series of notes issued by Xelo PLC, an Irish domiciled multi-issuance SPE arranged by Barclays Bank PLC. At the same time, the notes were removed from CreditWatch, where they had been placed on Dec. 12, 2003. The rating action follows the lowering of the long-term rating on Parmalat Finanziaria SpA (CC/Watch Dev/C) to 'CC' on Dec. 10, 2003. Parmalat Finanziaria, or a credit-linked subsidiary, is named as a reference obligation under the credit default swaps connected with this synthetic CDO transaction. Standard & Poor's has conducted a full analysis of this transaction to assess the sensitivity of the rating to...

Companies mentioned in this report are:
- Xelo PLC
- Barclays Bank PLC

Action: Affirmed, Off CreditWatch

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.

Note: Product cover images may vary from those shown
2 of 3

- Xelo PLC
- Barclays Bank PLC

Note: Product cover images may vary from those shown
3 of 3
Note: Product cover images may vary from those shown