Ratings Affirmed In German CLO EuroConnect Issuer SME 2007; Related Unicredit Bank/Unicredit Bank Austria CLN Actions Mar 12
- Language: English
- Published: March 2012
- Region: Austria, Germany
OVERVIEW Today's rating actions follow the CreditWatch negative placement of our ratings on Unicredit Bank (formerly Bayerische Hypo- und Vereinsbank) as originator of the underlying loans in the portfolio, as well as our review of the transaction's performance using the latest available monthly servicer report of December 2011, and portfolio performance data received from the servicer. We have placed on CreditWatch negative our rating on the class A notes. We have affirmed our ratings on all other classes of notes. Geldilux-TS-2007 is a cash flow CLO of short-term loans originated under Unicredit Bank's euro-loan program. These ratings are based on our criteria for rating European SME securitizations. However, these criteria are under review. As a result of this review, our...
Companies mentioned in this report are: Geldilux-TS-2007 S.A.
Action: On CreditWatch:Negative
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