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Blue Spice LLC Assigned A-1+ Rating Dec 01
Standard & Poors, Dec 2001
Abstract
NEW YORK (Standard & Poor's) Dec. 12, 2001--Standard & Poor's today assigned its 'A-1'-plus short-term rating to the new $5 billion CP program of Blue Spice LLC, a U.S.-based special purpose vehicle (SPV) sponsored by Deutsche Bank AG. Blue Spice LLC is a special purpose funding vehicle that allows Deutsche Bank to use outside funds generated through the sale of the CP to fund liquid assets related to ongoing business of the firm. The rating is based on the structure of the transaction, which provides a mechanism for direct credit support from Deutsche Bank AG. The structure is multistepped. First, a newly created Cayman Islands-based separate SPV, 'the asset holder,' (Blue Spice I Ltd.) purchases a liquid securities portfolio. The...
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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