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Preliminary Rating Assigned To ELIDE FCC Compartiment 2012-01's Class A RMBS Notes Jun 12 Product Image

Preliminary Rating Assigned To ELIDE FCC Compartiment 2012-01's Class A RMBS Notes Jun 12

  • Published: June 2012
  • Standard & Poors

Abstract
OVERVIEW We have assigned a preliminary 'AAA (sf)' rating in French RMBS transaction ELIDE FCC Compartiment 2012-01's class A notes. BRED Banque Populaire originated the mortgage loans that back ELIDE FCC Compartiment 2012-01's notes. PARIS (Standard & Poor's) June 20, 2012--Standard & Poor's Ratings Services today assigned its preliminary 'AAA (sf)' credit rating to ELIDE FCC Compartiment 2012-01's senior class A residential mortgage-backed floating-rate notes. ELIDE FCC Compartiment 2012-01 is a new compartment of the French "fonds commun de créances" (FCC), ELIDE. The originator of the transaction is BRED Banque Populaire (A+/Stable/A-1), which is part of the second-largest retail banking group in France, the BPCE group. This originator has previously executed private and public cash and synthetic securitizations. RATING RATIONALE...

Companies mentioned in this report are:
- ELIDE FCC Compartiment 2012-01

Action: Preliminary Rating

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- ELIDE FCC Compartiment 2012-01

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