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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

  • ID: 2163440
  • 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

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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- ELIDE FCC Compartiment 2012-01

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown

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