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Summary: Newport Funding Corp. Jun 01

  • ID: 2032116
  • June 2001
  • Standard & Poors
1 of 3

FEATURED COMPANIES

  • Deutsche Bank AG
  • MBIA Insurance Corp.
  • MORE

Abstract
The rating on Newport Funding Corp.'s commercial paper program is based on the bankruptcy-remote nature of Newport Funding Corp. and the rating on Deutsche Bank AG as liquidity provider, put provider, and repurchase agreement provider. Newport Funding Corp., a special-purpose, bankruptcy-remote entity, is authorized to issue up to $5 billion in commercial paper notes. The proceeds of the notes will be used to purchase a portfolio of highly rated long- and short-term securities that are insured by MBIA Insurance Corp. and to offer loans and repurchase agreements. The portfolio of securities is supported by a liquidity agreement and a repurchase agreement from Deutsche Bank AG. Deutsche Bank AG provides liquidity to the issuer in the form of a liquidity facility...

Companies mentioned in this report are:
- Deutsche Bank AG
- MBIA Insurance Corp.

Action: Review

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 READ MORE >

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- Deutsche Bank AG
- MBIA Insurance Corp.

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