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Rating Assigned To Societe Generale's Variable-Rate Notes In Claris IV Series 39 Jun 11 Product Image

Rating Assigned To Societe Generale's Variable-Rate Notes In Claris IV Series 39 Jun 11

  • ID: 2048025
  • June 2011
  • Standard & Poors

Abstract
OVERVIEW We have assigned a 'A+' rating to Soci-t- G-n-rale's Claris IV series 39 notes. Claris IV series 39 is a variable-rate note repack transaction backed by a U.S. dollar-denominated fixed-rate senior unsecured note issued by Soci-t- G-n-rale (ISIN: US83368TAA60). LONDON (Standard & Poor's) June 30, 2011--Standard & Poor's Ratings Services today assigned its 'A+' credit rating to Claris IV Ltd.'s -50 million variable-rate notes series 39. At closing, Claris IV issued -50 million of notes at an issue price of 100% of the notes' par value. Claris IV also entered into a cross-currency swap with Soci-t- G-n-rale (SG). Under this swap, Claris IV initially transferred the euro-denominated note proceeds to SG. SG in turn paid to Claris IV a...

Companies mentioned in this report are: Claris IV Ltd.
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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