Summary: Ribco Trust's Series 2006 FR-K76 And RI-K76 Ratings Placed On Watch Negative; Residual Certificates; Tender Option Certificates/Bonds Jul 11
- Language: English
- Published: July 2011
Ribco Trust floating rate trust receipts (Floater-TRs) series 2007 FR/K72W are rated 'AAA/A-1'. The long-term component of the rating is based on the 'AAA' rated, Colorado Health Facilities Authority retirement housing revenue bonds (Liberty Heights Project), 1991 series B. The short-term component of the rating is based on a liquidity facility provided by Lehman Liquidity Co. LLC secured by a line of credit from Lehman Brothers Holdings Inc. expiring Nov. 1, 2008. The underlying bonds are zero coupon bonds and a schedule of periodic accretion and issuance is established whereby additional Floater-TRs will be issued in accordance with the accretion of the underlying bond. The proceeds from such issuance will be used to pay interest to the receipt holders. Should...
Companies mentioned in this report are: Liberty Heights,Colorado Hlth Fac Auth,Ribco Tr
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
SHOW LESS READ MORE >
Liberty Heights,Colorado Hlth Fac Auth,Ribco Tr