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Rating Assigned To Adriano Lease Sec.'s Class A Italian Lease Receivables ABS Notes Dec 11 Product Image

Rating Assigned To Adriano Lease Sec.'s Class A Italian Lease Receivables ABS Notes Dec 11

  • ID: 2035812
  • December 2011
  • Region: Italy
  • Standard & Poors

FEATURED COMPANIES

  • Adriano Lease Sec. S.r.l.
  • MORE

Abstract
OVERVIEW We have assigned a 'AAA (sf)/Watch Neg' rating to Adriano Lease Sec.'s class A asset-backed floating-rate notes. This is the first public leasing transaction with Leasint as originator that we rate, and the first transaction from this issuer. MILAN (Standard & Poor's) Dec. 29, 2011--Standard & Poor's Ratings Services today assigned its 'AAA (sf)/Watch Neg' credit rating to Adriano Lease Sec. S.r.l.'s €2,787.60 million class A asset-backed floating-rate notes. Adriano Lease Sec. also issued €3,044.32 million unrated class B notes (see list below). The notes are backed by a portfolio of lease receivables categorized into three pools: Vehicles, equipment, and real estate. The lease originator, Leasint SpA (not rated), is a leading Italian leasing company and a member of...

Companies mentioned in this report are:
- Adriano Lease Sec. S.r.l.

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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