Rating Affirmed on Notes in Xelo PLC CDO; Off Watch Dec 03
- ID: 2030131
- December 2003
- Standard & Poors
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
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Research type: News
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