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Bank of Scotland PLC Covered Bond Program Rating Affirmed Following Review Feb 08
Standard & Poors, Feb 2008
Abstract
LONDON (Standard & Poor's) Feb. 26, 2008-Standard & Poor's Ratings Services said today that it has affirmed its 'AAA' credit ratings on Bank of Scotland PLC Covered Bond Program, and series 2004-1, 2005-1, and 2006-1 issued under that program. Today's rating actions follow a review by Standard & Poor's of Bank of Scotland PLC's social housing covered bond program. The first series closed in December 2004 with an initial issue of -500 million. There have been two other issues of -500 million each: one in 2005 and one in 2006. The collateral pool assets are all secured loans made to U.K. housing associations, which are not-for-profit organizations. A small percentage of the security pool comprises loans to funding subsidiaries of...
Companies mentioned in this report are: Bank of Scotland PLC Covered Bond Programme
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.
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