Fitch Affs Fondo De Titulizacion De Activos Resultantes De La Moratoria Nuclear.

Business Editors

LONDON--(BUSINESS WIRE)--Sept. 9, 2002

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. , the international rating agency, has affirmed af·firm
v. af·firmed, af·firm·ing, af·firms

v.tr.
1. To declare positively or firmly; maintain to be true.

2. To support or uphold the validity of; confirm.

v.intr. the 'AA+' rating of the Loan Class A and the Loan Class B debt obligations of the Fondo de Titulizacion de Activos Resultantes de la Moratoria Nuclear. At the same time, the agency has withdrawn the 'AA+' rating of the Class A Bonds, which have been fully redeemed re·deem
tr.v. re·deemed, re·deem·ing, re·deems
1. To recover ownership of by paying a specified sum.

2. To pay off (a promissory note, for example).

3. .

The debt obligations are backed by (i) cash flow from Compensation Rights granted to four utilities by the Spanish government

Chief of State
King Juan Carlos I, since November 22 1975
Head of Government
President of the Government: José Luis Rodríguez Zapatero, elected 14 March 2004.

following the 1983 declaration of a moratorium A suspension of activity or an authorized period of delay or waiting. A moratorium is sometimes agreed upon by the interested parties, or it may be authorized or imposed by operation of law. on all nuclear plant construction; and (ii) guarantees from the Spanish government to make up any shortfalls in revenue. As such the debt obligations are linked to the foreign and local currency ratings of the Kingdom of Spain (rated 'AA+').

Transaction details and surveillance information on this deal are available on the agency's subscription web site, www.fitchresearch.com.

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Publication:	Business Wire
Date:	Sep 9, 2002
Words:	150
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