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Rating Assigned To Corporate Securitization BAA Funding's Class A14 Notes Jun 11 Product Image

Rating Assigned To Corporate Securitization BAA Funding's Class A14 Notes Jun 11

  • Published: June 2011
  • Standard & Poors

FEATURED COMPANIES

Abstract
OVERVIEW We have assigned a 'A- (sf)' rating to BAA Funding's class A14 notes. BAA Funding will use the proceeds from the issuance to refinance part of its existing bank debt. This is a corporate securitization transaction that provides first-ranking security over the securitized assets that include Heathrow and Stansted airports and the Heathrow Express rail link. LONDON (Standard & Poor's) June 28, 2011--Standard & Poor's Ratings Services today assigned its 'A- (sf)' credit rating to BAA Funding Ltd.'s US$1 billion class A14 note issuance under its -50 billion multicurrency program. The outlook is stable. The semiannual interest coupon is 4.875% and the legal final maturity is July 15, 2023. BAA Funding is designed to consolidate debt for BAA Ltd.'s...

Companies mentioned in this report are: BAA Funding 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 READ MORE >

BAA Funding Ltd.

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