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'AA' & 'A' Long-Term Credit Rtgs Assigned to LTR Finance No.1 Ltd. Sr & Jr Floating-Rate Notes Apr 99
Standard & Poors, April 1999
Abstract
PARIS (Standard & Poor's CreditWire) April 23, 1999--Standard & Poor's today assigned its double-'A' and single-'A' long-term credit ratings respectively to the Senior and Junior floating-rate notes to be issued by LTR Finance No.1 Ltd., a special-purpose vehicle incorporated under Jersey law and set up to provide refinancing for a revolving pool of automobile receivables originated in Portugal by SOFINLOC S.A. under long-term rental agreements, leasing, and credit contracts. The ratings refer to timely payment of interest and ultimate payment of principal to noteholders as per the offering circular, and are based on: -- SOFINLOC's demonstrated ability to service the assets, as confirmed by an on-site due diligence visit carried out by Standard & Poor's; -- The credit quality of...
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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