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Article: S&P Asgns Prelim Rtgs in Bancaja's Spanish RMBS Deal.
- Article from:
- Business Wire
- Article date:
- April 10, 2003
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Business Editors
LONDON--(BUSINESS WIRE)--April 10, 2003
Standard & Poor's Ratings Services said today that it assigned its preliminary credit ratings to the EUR1 billion notes (bonos de titulizacion) to be issued by special-purpose entity Bancaja 5 Fondo de Titulizacion de Activos (Bancaja 5 FTA) (see list below).
The collateral backing the notes is made up of a pool of first-lien residential mortgage loans made to borrowers in Spain, which have been originated by Caja de Ahorros de Valencia, Castellon y Alicante, Bancaja (Bancaja).
Bancaja will issue 'mortgage participations' (each of which is backed by a single residential mortgage ...