FGIC Insures First Note Issuance For CAF ABS Investment LLC.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Financial Guaranty Insurance Company announced today that it has guaranteed $85,000,000 of Class A-1A Floating Rate Senior Secured Term Notes and $50,000,000 of Class A-1B Floating Rate Senior Secured Revolving Notes for CAF CAF - constant applicative form ABS Investment LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control (CAFI CAFI Canadian Agriculture and Food International CAFI Conférence des Alpes franco-italiennes (French) CAFI Computer-Aided Fault Isolation CAFI Commanders Annual Facility Inspection ), an affiliate of Chicago Asset Funding LLC. These are CAFI's first note issuances under its new commercial asset-backed securities program. Proceeds from the Notes will be used to purchase securities backed by trade receivables generated by Amsted Industries Incorporated (AMSTED) and its affiliates. AMSTED is a diversified manufacturer of industrial components serving primarily the railroad, vehicular, and construction and building markets. Subject to pre-determined investment criteria, CAFI is also intended to be used as a conduit vehicle to acquire other public and/or private commercial asset-backed securities from corporate issuers. Kenneth Degen, Managing Director and head of Commercial ABS at FGIC FGIC See Financial Guaranty Insurance Corporation (FGIC). , commented, "Using a conduit vehicle like CAFI that creates a portfolio of commercial asset-backed transactions really expands an issuer's funding options, bringing in a new investor base while ensuring efficient execution." The transaction closed on January 30, 2006. Based on FGIC's financial guaranty, both the Floating Rate Senior Secured Term Notes and the Floating Rate Senior Secured Revolving Notes will carry triple-A ratings from Moody's Investors Service Moody's Investors Service A leading global credit rating, research and risk analysis firm. Moody's Investors Service A leading firm engaged in credit rating, risk analysis, and research of fixed-income securities and their issuers. and Standard & Poor's Rating Service. Chicago Asset Funding Company Profile Chicago Asset Funding originates, structures and executes rated structured finance securities for first-time corporate issuers. Chicago Asset Funding manages CAFI, a medium-term note Medium-term note (MTN) A corporate debt instrument that is continuously offered to investors over a period of time by an agent of the issuer. Investors can select from maturity bands of: 9 months to 1 year, more than 1 year to 18 months, more than 18 months to 2 years, etc. financing vehicle that funds its transactions. FGIC Company Profile FGIC provides credit enhancement on public finance and structured finance securities in the U.S. and internationally. Established in 1983, FGIC is one of the four leading monoline financial guarantors. FGIC typically guarantees the scheduled payments of principal and interest on an issuer's obligation. FGIC's financial strength is rated triple-A by Moody's Investors Service, Standard & Poor's and Fitch Ratings. |
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