Correct: Fitch Assigns Prelim Rtgs to Banco Itau 2003-1 & 2003-2 Notes.Business Editors NEW YORK--(BUSINESS WIRE)--July 2, 2003 (In a press release issued earlier the special-purpose company was incorrect. The proper name is Brazilian Diversified diversified (di·verˑ·s Payment Rights Finance Co. The amended release follows). Fitch Ratings-Chicago-July 2, 2003: Fitch Ratings Fitch Ratings An international rating agency for financial institutions, insurance companies, and corporate, sovereign, and municipal debt. Fitch Ratings has headquarters in New York and London and is wholly owned by FIMALAC of Paris. has assigned Brazilian Diversified Payment Rights Finance Co. (Banco Itau) series 2003-1, US$150 million notes a preliminary rating of 'AAA' and series 2003-2, US$50 million notes a short-term rating of 'F1+'. Brazilian Diversified Payment Rights Finance Co. is a Cayman Islands Cayman Islands (kā`mən), British dependency (2005 est. pop. 44,300), 100 sq mi (259 sq km), comprising three islands in the West Indies. special-purpose company. The underlying issuance is a securitization Securitization The process of creating a financial instrument by combining other financial assets and then marketing them to investors. Notes: Mortgage backed securities are a perfect example of securitization. May also be spelled as "securitisation. of existing and future U.S. dollar-denominated diversified payment rights originated by Banco Itau. The presale pre·sale n. 1. The period before something, such as a work of art, is available for sale to the public. 2. An exclusive or private sale held before an advertised sale. report is available to all investors on Fitch's corporate site, 'www.fitchratings.com' and should be read in conjunction with the original new issue report titled 'Brazilian Diversified Payment Rights Finance Company' dated April 1, 2002, also available on the web site. For more information about Fitch's comprehensive subscription service FitchResearch, which includes all presale reports, surveillance, and credit reports on more than twenty asset classes, contact product sales at 1-212-908-0800 or at 'webmaster@fitchratings.com'. |
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