New Issue: Spoleto Mortgages 2011 Societ? Per La Cartolarizzazione S.r.l. Mar 12
Standard & Poors, March 2012
Abstract
Standard & Poor's Ratings Services has assigned its 'AA+ (sf)' credit rating to Spoleto Mortgages 2011 Societ- Per La Cartolarizzazione S.r.l.'s (Spoleto Mortgages 2011) -320 million class A asset-backed floating-rate notes. At closing, the issuer also issued -105 million unrated class B notes to fund the purchase of the portfolio. The transaction securitizes a pool of residential mortgage loans that Banca Popolare di Spoleto SpA (BP Spoleto; not rated) granted to individual borrowers and debtors classified by Bank of Italy as artisans and other producing families (SAE code 614 and 615) in Italy. BP Spoleto, as originator, is a local bank mostly serving the region of Umbria, central Italy. It offers traditional and professional banking services to mainly retail clients...
Companies mentioned in this report are: Spoleto Mortgages 2011 Societa Per La Cartolarizzazione S.r.l.,BNP Paribas Securities Services
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: Full Analysis
Spoleto Mortgages 2011 Societa Per La Cartolarizzazione S.r.l.,BNP Paribas Securities Services
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