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Ratings Affirmed On Gatwick Funding's Series 2011/1 And 2011/2 Asset-Backed Notes Following Review Jan 12
Standard & Poors, Jan 2012
Abstract
OVERVIEW We continue to view the performance of the Gatwick Funding securitization to be in line with our expectations. We have affirmed our 'BBB+' ratings on all notes issued under the securitization. Gatwick Funding is a corporate securitization that originally closed on March 2, 2011. LONDON (Standard & Poor's) Jan. 13, 2012--Standard & Poor's Ratings Services today affirmed its credit ratings on Gatwick Funding Ltd.'s series 2011/1 and 2011/2 notes (see list below). These affirmations follow our review of the Gatwick Funding securitization, including a review of the borrower, Gatwick Airport Ltd. (GAL). Our analysis takes into account Gatwick's interim results to Sept. 30, 2011, and follows our meeting with the management. We consider that GAL has performed satisfactorily since...
Companies mentioned in this report are: Gatwick Funding Ltd.
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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