Presale: Galileo Euro ABS CDO I Ltd. Aug 07
- ID: 2031854
- August 2007
- Standard & Poors
Standard & Poor's Ratings Services has assigned preliminary credit ratings to the €690 million secured floating-rate notes to be issued by Galileo Euro ABS CDO I Ltd. Galileo Euro ABS CDO I will also issue an unrated tranche totaling €39 million. Standard & Poor's ratings address the likelihood that the reference portfolio, when subjected to stressed conditions, can generate adequate cash flow to meet contractual payments of interest and principal given the level of defaults expected for the portfolio at a particular rating level. The note proceeds will be placed in the collateral account, and may be invested in eligible investments thereafter. The reference portfolio is expected to be 100% ramped up at closing, and the weighted-average life is expected...
Companies mentioned in this report are:
- Deutsche Bank AG
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Research Type: Full Analysis