- Language: English
- Published: December 2011
New Issue: FCT BS CDN PPI Jan 12
- Published: January 2012
- Standard & Poors
Standard & Poor's Ratings Services has assigned a 'AAA (sf)' credit rating to FCT BS CDN PPI's (BS CDN PPI) up to -1,438.7 million mortgage-backed floating-rate class A notes. At the same time, BS CDN PPI issued -300 unrated class R residual units. This transaction has transferred to investors the credit risk on a portfolio of prime residential loans originated by Cr-dit du Nord to individuals or "soci-t- civile immobili-res" (companies constituted for property ownership and management) to finance real estate and home improvements in France. This transaction is similar to FCT R&B BDDF PPI's transaction structure. Similar to R&B BDDF PPI's structure, BS CDN PPI has used the note issuance proceeds to fund the purchase of a loan from...
Companies mentioned in this report are: FCT BS CDN PPI
Action: New Rating
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Research Type: Full Analysis
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FCT BS CDN PPI