New Issue: FCT R&B BDDF PPI Dec 11
Standard & Poors, December 2011
Abstract
Standard & Poor's Ratings Services has assigned a 'AAA (sf)' credit rating to FCT R&B BDDF PPI's (R&B BDDF PPI) -5,716.1 million mortgage-backed floating-rate class A notes. At the same time, R&B BDDF PPI is also issuing -300 unrated class R residual units. This transaction transfers to investors the credit risk on a portfolio of prime residential loans originated by Soci-t- G-n-rale to individuals or "soci-t- civile immobili-res" (companies constituted for property ownership and management) to finance real estate and home improvements in France. Since we assigned preliminary ratings to this transaction on Dec. 9, 2011, the arranger has not made any material structural changes to this transaction. This transaction is similar to FCT RED & BLACK FRENCH SMALL BUSINESS...
Companies mentioned in this report are: FCT R&B BDDF PPI
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: Full Analysis
FCT R&B BDDF PPI
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