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Ratings On Class A+, A, And B Notes Placed On CreditWatch Negative In PROVIDE VR 2002-1 After KfW CreditWatch Action Dec 11
Standard & Poors, December 2011
OVERVIEW On Dec. 7, 2011, we placed our 'AAA' long-term rating on KfW on CreditWatch negative. Consequently, we have placed on CreditWatch negative all classes of notes where KfW is a supporting party to the ratings on 'AAA' rated notes, including three tranches in the PROVIDE VR 2002-1 transaction. PROVIDE VR 2002-1 is a German RMBS transaction that closed in November 2002. FRANKFURT (Standard & Poor's) Dec. 15, 2011--Standard & Poor's Ratings Services today placed on CreditWatch negative its 'AAA (sf)' ratings on PROVIDE VR 2002-1's class A+, A, and B notes (see list below). These ratings are capped to the ratings on Kreditanstalt f-r Wiederaufbau (KfW). The ratings on the affected notes are backed by collateral issued by KfW....
Companies mentioned in this report are: PROVIDE VR 2002-1
Action: On CreditWatch:Negative
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
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PROVIDE VR 2002-1