Drug Royalty LP 1 Series 2012-1 $195 Million Notes Assigned Preliminary Ratings Mar 12
Standard & Poors, March 2012
Abstract
OVERVIEW Drug Royalty LP 1's issuance is a CDO securitization backed by royalty revenue from 18 royalty streams on 14 patent-protected drugs and technologies. We assigned our preliminary ratings to the class A notes. The preliminary ratings reflect our view of the transaction's timely interest and ultimate principal payments, the expected value of the collateral's cash flow, legal and payment structures, DRI Capital Inc.'s servicing ability, among other factors. NEW YORK (Standard & Poor's) March 6, 2012--Standard & Poor's Ratings Services today assigned its preliminary ratings to Drug Royalty LP 1's $195 million class A fixed- and floating-rate secured notes series 2012-1 due July 15, 2024 (see list). The note issuance is a collateralized debt obligation securitization backed by royalty...
Companies mentioned in this report are: Drug Royalty LP 1
Action: Preliminary 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.
Drug Royalty LP 1
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