New Issue: KIT Ipoteka Ltd. Jul 08
Standard & Poors, July 2008
Abstract
Standard & Poor's Ratings Services has assigned credit ratings to the class A notes issued by KIT Ipoteka Ltd., an SPE incorporated as a limited liability company in Ireland. The issuance of RUR 4,880 million comprises RUR4,750 million mortgage-backed fixed-rate notes and a tranche of RUR130 million of unrated subordinated notes. Interest on the notes is payable monthly in arrears on the 25th day of each month, while principal is paid to the class A notes only (until repaid in full). The structure includes a cash reserve fund of 1.47% of the initial principal balance of the class A notes, and overcollateralization of 40.0% of the initial principal balance of the class A notes. The reserve fund is funded from...
Companies mentioned in this report are:
- Deutsche Bank AG
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: Full Analysis
- Deutsche Bank AG
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