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CBA Launches Its Inaugural Australian SME Loan-Secured CLN Issue Nov 03

  • ID: 2054507
  • November 2003
  • Region: Australia
  • Standard & Poors
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MELBOURNE (Standard & Poor's) Nov. 6, 2003--Standard & Poor's Ratings Services said today that it has assigned its preliminary ratings to the five classes of small and midsize enterprise (SME) loan-backed credit-linked notes issued by the trustee of the Medallion – Series 2003-1 SME Credit Linked Trust (see list). The preliminary ratings are based on information as of Nov. 6, 2003. Subsequent information may result in the assignment of final ratings that differ from the preliminary ratings. "The market for SME loan securitizations has witnessed increased activity over the last three years, particularly in Europe," said Standard & Poor's credit analyst Vera Ha, director of Structured Finance Ratings. "Through its synthetic structure, the trust is exposed to the credit risk...

Companies mentioned in this report are:
- Commonwealth Bank of Australia

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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- Commonwealth Bank of Australia

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