Ratings on 10 ABCP Conduits Affirmed Based on 11 Transactions;$1.86 Bil. Total Financing Limit Jun 03

Standard & Poors, June 2003

Abstract
NEW YORK (Standard & Poor's) June 2, 2003--Standard & Poor's Ratings Services affirmed its ratings on 10 ABCP multiseller conduits for the period of May 19, 2003, to May 30, 2003 (see list). These affirmations are based on Standard & Poor's review of 11 transactions. Financing limits for these transactions totaled $1.86 billion. The commercial paper issued by the conduits was backed by student loans, rated debt securities, equipment leases, fleet lease receivables, trade receivables, residential mortgages, and variable funding notes. ABCP RATING AFFIRMATION COMPILATION, May 19 to May 30, 2003 Conduit Rtg Limit Ind. of (Program administrator) (mil. $) recs originator Gemini Securitization Corp. (Deutsche Bank AG) A-1+ 255.0 Financial Beethoven Funding Corp. (Dresdner Bank AG) A-1 300.0 Financial...

Companies mentioned in this report are: Gemini Securitization Corp., LLC,Atlantic Asset Securitization LLC,Starbird Funding Corp.,Liberty Street Funding LLC,Fairway Finance Company LLC,Beethoven Funding Corporation
Action: Affirmed

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.

Gemini Securitization Corp., LLC,Atlantic Asset Securitization LLC,Starbird Funding Corp.,Liberty Street Funding LLC,Fairway Finance Company LLC,Beethoven Funding Corporation

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