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Summary: Newport Funding Corp. Jun 01 Product Image

Summary: Newport Funding Corp. Jun 01

  • Published: June 2001
  • Standard & Poors

FEATURED COMPANIES

  • Deutsche Bank AG
  • MBIA Insurance Corp.
  • Newport Funding 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:
- Newport Funding Corp.
- 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 READ MORE >

- Newport Funding Corp.
- Deutsche Bank AG
- MBIA Insurance Corp.

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